Online footwear and fashion retailer ZALORA today announced that J.P. Morgan Asset Management (JP Morgan) has injected an undisclosed amount of capital into the business.
ZALORA is a Southeast Asia-focused Zappos clone launched by the German Samwer brothers’ infamous Rocket Internet incubator, which we recently reported is continuing its major push into the region with founding partner Marc Samwer at the helm.
JP Morgan also recently invested in Rocket Internet’s Amazon clone Lazada; sources told us the firm injected ‘upwards of $50 million’ (and possibly up to $100 million) into that company.
ZALORA was launched a mere eight months ago and already operates in six markets with over 1,000 employees: Singapore, Thailand, Indonesia, Philippines, Vietnam and Malaysia.
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JP Morgan says it also invested in ZALORA operations in Hong Kong and Taiwan. Other ZALORA backers include Invus and Summit Partners.
Also read:
Rocket Internet’s China operations set to crash unless it finds new investors [Update]
Image credit: Chris Hondros / Getty Images
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