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Tag: Global Fashion Group

  • ZALORA nabs Myntra CMO Gunjan Soni as new CEO

    ZALORA nabs Myntra CMO Gunjan Soni as new CEO

    Global Fashion Group has chosen the head of Jabong India as the new Zalora CEO. Gunjan Soni will over the helm of the Southeast Asian e-commerce portal early next year after she completes her combined tenure as chief marketing officer with India’s largest fashion e-commerce business, Myntra, and the Jabong role.

    Soni has more than 13 years of leadership experience in marketing, strategy and operations and a passion for building new-age consumer businesses.

    “It is truly a huge privilege to lead Zalora, which is already the leading fashion and sports destination, at a time when Southeast Asian markets are poised for increasing fashion and e-commerce consumption,” she said in a statement.

    “When I see Zalora, I see a company with limitless potential and ability to shape the future of fashion commerce in one of the most exciting markets globally. This makes it both exciting and humbling to take on this role.”

    At Myntra, Soni was instrumental in positioning the brand as a leader in fashion and lifestyle and leading the turnaround of the Jabong business post acquisition.

    Prior to joining Myntra, the next Zalora CEO was executive VP for strategy & CEO office with Star India. She also spent a large part of her career at McKinsey where she was a partner, working across multiple consumer sectors and geographies including the UK, Singapore and Bhutan.

    She is a recognised leader in business having featured in Spencer Stuart-Economic Times young leaders 40 under 40 list, Fortune India 40 under 40, and named one of the most influential women leaders in media.

    Patrick Schmidt, Co-CEO of Global Fashion Group, Soni’s experience in leading operations, strategy and marketing in fashion e-commerce and her strong leadership skills will be instrumental in strengthening Zalora’s position as market leader in Southeast Asia’s e-fashion space.

    “She has a deep and broad understanding of the complexities of e-commerce and has contributed to building one of the world’s biggest fashion e-commerce companies.”

  • Zalora Group appoints new CMO

    Online fashion retailer Zalora Group has appointed a new chief marketing officer to help boost its Asia-wide profile.

    Elias Pour joins Zalora Group from Red Bull, where he was head of digital managing the brand’s digital marketing, content production and e-commerce sales in Asia-Pacific. At Zalora, he will lead a team of more than 150 people, overseeing the online fashion retailer’s entire marketing operations.

    Prior to his time with red Bull, Pour worked in both Sweden and Denmark, holding key management positions for Volvo, Danske Bank and Telenor. He has been based in Sydney, Australia, for the last eight years, working for Adobe and Commonwealth Bank of Australia before joining Red Bull.

    Patrick Schmidt, Co-CEO of Zalora Group’s parent Global Fashion Group, said Pour would help the company as it enters a new period of growth.

    “I am confident that under his leadership, Zalora will continue to provide fashion consumers in Asia, the best online and mobile shopping experience possible and achieve its full potential as the region’s fashion retail powerhouse.”

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  • Ayala buys stake in Zalora Philippines

    Ayala buys stake in Zalora Philippines

    Ayala Corporation has stepped into eCommerce by acquiring a 49 per cent stake in BF Jade E-Service Philippines, which owns and runs fashion platform Zalora Philippines.

    The conglomerate has announced it is buying 43.3 per cent of BF Jade, while in a separate disclosure Ayala Land says it will own 1.91 per cent. BPI Capital Corporation and Kickstart Ventures also acquired minority stakes in BF-Jade. BPI and Kickstart are wholly owned subsidiaries of BPI and Globe Telecom respectively.

    Ayala’s involvement is part of its strategy to invest in new disruptive businesses offering innovation to evolving markets, the conglomerate says.

    “This investment demonstrates how we at Ayala look at innovation and growth opportunities,” says chairman/CEO Jaime Augusto Zobel de Ayala.

    “We see the potential of eCommerce in the country, and believe the Ayala group can benefit and add tremendous value to Zalora. With resources in banking, real estate and telecommunications, the investment presents new opportunities for Ayala to generate synergies throughout the eCommerce value chain.”

    Zalora Philippines was co-founded in 2012 as part of the global network of the Zalora Group, which is 100 per cent owned by the Global Fashion Group.

  • Revenue up 36pc for Zalora parent

    Revenue up 36pc for Zalora parent

    The Lazada and Zalora parent is paring back its losses after divesting operations in two markets.

    With operating losses nearly halved and excluding disposals in India and Southeast Asia, Global Fashion Group (GFG) has reported a 36.3 per cent rise in net revenue.

    Backed by Rocket Internet and comprising online fashion retail businesses in emerging markets, GFG says net revenue in constant currency rose 47.5 per cent to 456 million euros (US$512.73 million).

    GFG sold interests in Thailand and Vietnam for an undisclosed amount to retailer Central Group in April. It also sold its Indian fashion business Jabong to Flipkart for $70 million in cash in August.

    GFG raised 330 million euros in funding from existing investors in July, cutting the holding of Rocket Internet to 20.4 per cent.

    The company says adjusted losses before interest, taxes, depreciation and amortisation (EBITDA) narrowed to 67.6 million euros in the first half of this year from 120.5 million euros in the same period last year. The EBITDA margin improved to a negative 14.8 per cent in the first half from minus 33.4 per cent, which the company says was driven by tighter inventory management and cost-cutting.

  • Wildcraft expands out of India

    Wildcraft expands out of India

    As a first step toward growing its international presence, Indian fashion brand Wildcraft has launched into the Middle East and Southeast Asia.

    It has formed partnerships for its foray into the UAE, Oman and Muscat markets, and online partnerships for Hong Kong, Indonesia, Malaysia, Singapore and Taiwan, reports ETRetail.com.

    Wildcraft unveiled a new brand identity last year while expanding its product portfolio into clothing and footwear. It has also added 130 retail outlets in more than 50 cities across India, giving it more than 3000 distribution points in more than 400 cities in India.

    In Southeast Asia, the brand has partnered with Zalora, part of the Global Fashion Group, giving Wildcraft access to the Hong Kong, Malaysia, Singapore and Taiwan markets. It will use this alliance to initially sell its outdoor gear products.

    Co-founder Gaurav Dublish says the international expansion “is just the start of our growth plans”.

    “The focus, at this point, is to reach countries with similar climatic conditions and geo-proximity.”

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