BANGKOK: Zalora, a fashion-oriented e-commerce site, confirmed today that it would sell Zalora Thailand and Zalora Vietnam ventures. In a statement, it said the sale agreements were signed and settlement is expected in the coming days. However, it did not specify the name of the buyer. There were reports that Central Group was eager to buy the businesses. Zalora is the region’s market leader in fashion e-commerce with presence in Singapore, Malaysia & Brunei, Indonesia, Philippines, Hong Kong and Taiwan.
ZALORA Group CEO, Michele Ferrario, said: “This move will allow us to capture opportunities and strengthen our position in our markets, as we gear towards accelerating our growth. We are happy to have contributed to the vibrancy of Thailand and Vietnam’s e-commerce scene, and we trust that the future owners will continue to build on what we started. We remain committed to providing consumers in the region the best online and mobile shopping experience possible.”
