Rocket Internet’s ‘Global Fashion Group’ (aka GFG, the holding that comprises Zalora Dafiti, Lamoda and others), has secured commitment for a €300 million financing round that values the combined online fashion retail business at €1 billion after the transactions.
(Just for context, less than a year ago GFG raised €150 million at a €3.1 billion valuation)
Rocket says GFG performed strongly in Q1 2016, which is to say it was able to reduce the loss significantly compared to the first quarter of last year. The group’s adjusted EBITDA margin has increased by over 10% year-over-year, Rocket said in a statement.
Global Fashion Group was established by Rocket and other shareholders back in 2014.
The holding’s acting CEO, Romain Voog, said he was pleased with the continued support of GFG’s existing backers, saying the extra cash will help it “deliver an accelerated path to profitability” across all its regional businesses.