Is that what an IPO candidate looks like? In its annual report for 2016 (PDF), the Global Fashion Group presents itself as a big player with a net merchandise value above €1 billion, but also with huge losses:
After parting with Jabong in India (Flipkarts Myntra bought Jabong for $70 million last summer), Zalora in South East Asia is the Group’s new biggest loss maker. („Global Fashion Group signs strategic partnership with Ayala Group on ZALORA Philippines“, PDF)
Global Fashion Group started out as a sort of “bad bank” of Rocket startups. While the Group made progess since then, one can’t exactly call it a winner yet.
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