Zalora, the Zappos-style Southeast Asia-based online fashion store, has raised $100 million to scale up operations and expand the number of local and international brands it carries.
The startup, which launched in 2012, already has more than 400 brands across womenswear, menswear, footwear, accessories, beauty and sports and operates in Hong Kong, Indonesia, Malaysia, Singapore,Thailand, the Philippines, Taiwan and Vietnam.
During its short life, the company has become the leading online store for fashion in Southeast Asia.
It helps that Zalora has substantial support from lead backer Internet Rocket and has already raised $26 million in capital this March from German retail conglomerate Tengelmann, TechCrunch reported at the time. Zalora also raised undisclosed funds from JP Morgan last September.
Internet Rocket, a German holding company that describes itself as an "international online venture builder," has found success in taking clones of U.S. startups and companies and bringing them to a global audience.
A number of the startups it has backed have been bought out by large U.S. companies. For example, auction house company Alando was acquired by eBay in 1999 and CityDeal, a deal-of-the-day website focused on the U.K. and Europe, was purchased by Groupon in 2010.
Photo: Zalora Malaysia; Graphic: Internet Rocket
This post was originally published on Smartplanet.com