ZALORA Philippines recently announced that J.P. Morgan Asset Management has agreed to invest in the company, paving the way for further growth and expansion of the Philippines’ leading online fashion and lifestyle retailer.
“We are extremely pleased to count the distinguished global investment firm J.P. Morgan Asset Management to our shareholders. Their investment, which comes just seven months after the launch of ZALORA, demonstrates our success at bringing fashion to customers throughout the Philippines at the click of a button,” said Managing Director and Co-Founder Paulo Campos III. “Online retail holds tremendous potential in this market of more than half a billion customers, and we look forward to continued growth with our shareholders.”
J.P. Morgan Asset Management also invested simultaneously into the ZALORA sister companies in five South East Asian countries as well as in Hong Kong and Taiwan. As the latest investor in ZALORA, J.P. Morgan Asset Management joins the likes of Rocket Internet, Summit Partners and Invus. ZALORA was founded in early 2012, employs more than 1,000 employees today and already achieved annualized double-digit million USD revenues.