Rocket Internet reveals results for Zalando "clones"
today May 15, 2015
Rocket Internet has released the results for its various businesses. Following the success of Zalando, the Berlin-based investor began developing sites in emerging markets in a bid to become an online fashion leader in these countries as well.
To achieve its goals, it established Global Fashion Group, which is comprised of 5 start-ups. The group has seen strong sales growth but also continues to suffer significant losses.
In Brazil, for example, the site Dafiti saw its net sales jump by 41% to 592 million Brazilian reais (172 million euros) in 2014. Its Ebitda improved by 13 points, but remained negative at -35%!
The case is similar in Russia, where Lamoda saw its net sales jump by 84% to 9.2 billion rubles (165 million euros) but saw an Ebitda of -23%.
In India, Jabong saw its net sales rise to 8.1 billion Indian rupees (111 million euros) for a reduced deficit.
In South Asia, Zalora saw its net sales increase by 70% to 117 million euros for an Ebitda at -58%.
Finally, Namshi, in the Middle East, is almost profitable, but its business accounts for only 168 million dirhams, or forty million euros.
€1 = $114/£0.72
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