Global Fashion Group (“GFG”) has announced a successful funding round of EUR 330 million, which has been subscribed by existing investors including Rocket Internet SE (“Rocket Internet”) and the Rocket Internet Capital Partners fund (“RICP”).
Founded in 2014, GFG combines six leading regional online Fashion businesses, Dafiti in Latin America, Lamoda in Russia and GUS, Namshi in the Middle East, The Iconic in Australia, Jabong in India and Zalora in South-East Asia.
Rocket Internet has invested EUR 68 million including the conversion of an investment in a previous financing round and excluding any commitment from RICP. The transaction values GFG at EUR 1.0 billion post the investment. Rocket Internet’s direct and indirect stake after the transaction will be 20.4% .
Will this cash infusion give second life to Jabong, which has been for sale?