Zalora Group, one of Southeast Asia’s fastest-growing fashion & beauty online store, has secured US$112 million (SG$139 million) in funding. This comes from privately held investor group Access Industries. Funds are managed by US-based asset management firm Scopia Capital Management LLC and other institutional investors.
In May 2013, Zalora also attained a US$100 million funding. Most recently, it launched its first private brand Ezra and focused on extending its assortment to offer a broader variety of fashion and beauty items.
The new capital will support Zalora Group’s efforts to scale up operations and gain an even stronger foothold throughout South-East Asia and Australia, serving 600 million potential online shopping customers in the region.
Michele Ferrario, managing director of the Zalora Group said the investment will allow the company to continue “building on its position as the leading fashion and beauty e-commerce retailer in Southeast Asia.”
This investment is also said to allow the brand to continue to build the one-stop online shopping destination for fashion and put a focus on customer satisfaction.
Zalora Group was founded in late 2011 and has a presence in Singapore, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Hong Kong and Brunei. Its localised sites offer over 500 top international and local brands and over 130,000 products across apparel, shoes, accessories, and beauty categories for men and women.