September 25, 2012 by Terence LEE
Despite persistent rumors that Rocket Internet’s Zalora is struggling to gain firm footing in Asia, the fashion online retailer has announced today that JP Morgan Asset Management is investing in the company.
The investment, rumored to be in the “significant double digit millions”, covers Zalora’s presence in five Southeast Asian countries (Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam) as well as Hong Kong and Taiwan. The fresh injection of funds comes just 8 months after Zalora’s launch. Read more