Rocket Internet Consolidates 5 Emerging Market Fashion Brands Into One: $3.5B GFG

Rocket internet anuncia fusiones en sus proyectos e-commerce de moda en mercados emergentes, Los Números que anuncian la verdad es que dan miedo…

TechCrunch

More news this morning from Rocket Internet as the Berlin-based startup incubator continues to clean house ahead of a planned public listing. Today the company, alongside one of its biggest co-investors, Kinnevik, announced that it would consolidate five of the fashion brands that it has established in emerging markets into a single entity that will have a combined valuation of €2.7 billion ($3.5 billion).

The companies getting consolidated have florid, fantasitcal names — they include Dafiti (Latin America), Jabong (India), Lamoda (Russia and CIS), Namshi (Middle East) and Zalora (South East Asia and Australia). In contrast, the new umbrella group has a distinctly more prosaic moniker: it will be called Global Fashion Group (GFG).

The closing of the deal is expected to happen by the end of 2014.

Rocket Internet says that “substantially all” the direct and indirect shareholders in the five e-commerce companies will contribute their shares into the newly…

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