"Zalora, the fashion-focused e-commerce site backed by Rocket Internet, is selling its businesses in Thailand and Vietnam to retailer Central Group, according to multiple sources close to the deal.
We reported the planned sale earlier this month and have since confirmed that Bangkok-headquartered Central Group is the buyer. The deal is said to be agreed in principle and currently subject to paperwork and red tape.
A Zalora spokesperson declined to comment. Central Group did not respond to multiple requests for comment.
Central Group may not be a name well known outside of Southeast Asia, but it is one of the region’s largest retail players with a huge footprint in Thailand and forays into Vietnam, Malaysia, Indonesia and other countries. The group’s assets, which include multiple shopping malls and national department store chains, are worth close to $10 billion and it employs some 70,000 people across its operations.
The group has been tipped to enter the online commerce space for some time, and our sources say that it has struck a deal to buy the country businesses from Zalora for around $10 million each. Online is estimated to account for around three percent of all commerce in Southeast Asia and, while that figure has grown in recent years and stands to increase as the internet becomes more widely accessible throughout the region, it remains a nascent segment that few offline retailers have stepped into. ..."
http://techcrunch.com/2016/04/25/retail ... d-vietnam/
Retail giant Central Group is buying Zalora’s businesses in Thailand and Vietnam
Retail giant Central Group is buying Zalora’s businesses in Thailand and Vietnam
My brain is like an Internet browser; 12 tabs are open and 5 of them are not responding, there's a GIF playing in an endless loop,... and where is that annoying music coming from?