Jabong will merge with four other e-tailers.
(Edited and contributed by Neeraj Bhanot - Editor DERIK TIMES)
Jabong will merge with
four other firms to create a new global fashion e-commerce Group. The new entity, which will be
called Global Fashion Group (GFG), will combine five fashion e-commerce
businesses, including
1.
Dafiti (Latin America)
2.
Jabong (India)
3.
Lamoda (Russia & CIS)
4.
Namshi (Middle East)
5. Zalora (South East Asia &
Australia).
The deal is expected
to close by the end of this year.
Why?
1.
This will help attaining economies of scale in sourcing
international brands and marketing with global media channels.
2.
Will strengthen private label efforts.
3.
Enhance ability to attract and retain top talent and accelerate
development of technology platforms.
Present scenario.
In India, fashion is
one of the largest and fiercely contested categories in the e-commerce space. According
to reports, the category is expected to see 400-per cent growth from $559
million to $2.81 billion by 2016.
After the merger, all
direct and indirect shareholders in the five existing e-commerce companies will
contribute their shares into a newly formed Luxembourg-based entity.
Key People Involved
1.
Arun Chandra Mohan
2.
Praveen Sinha
Important links.
Source
Business Today
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