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Five emerging fashion brands have been merged at a combined valuation of $3.5 billion by a berlin-based startup incubator, Rocket Internet, into a single entity with its co-investor, Kinnevik, that include- Dafiti(Latin America), Jabong (India), Lamoda (Russia and CIS), Namshi (Middle East) and Zalora(South East Asia and Australia).

As per a report by TechCrunch, the deal is expected to close by the end of 2014 and the new group formed will be named Global Fashion Group (GFG). As declared by the Rocket Internet, considerably all the direct and indirect shareholders in the five e-commerce companies will contribute their shares into the newly formed Luxembourg-based entity including three major shareholders in GFG will be Kinnevik (25.1%), Rocket (23.5%) and Access Industries (7.4%).

Over EUR 1 billion in investment has been raised by these five operations together to date , with shareholders including Kinnevik, Access Industries, Summit Partners, Verlinvest, Ontario Teachers’ Pension Plan and Tengelmann.

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This is not the first investment by Rocket Internet and Kinnevik in any Indian company; they have also invested in PricePanda which was launched recently. Kinnevik, which is a Swedish investment firm, invested $ 90 million in Quikr and $ 20 million in FoodPanda, earlier this year. FoodPanda also received funding from Phenom Ventures and Rocket Internet.

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The DSIM Editorial Team is a group of passionate digital marketing experts dedicated to providing insightful, high-quality content on the latest trends, strategies, and tools in the digital marketing industry. As part of the Delhi School of Internet Marketing (DSIM), the team focuses on delivering valuable information to help aspiring marketers, entrepreneurs, and business professionals enhance their digital skills. With years of combined experience in SEO, social media, content marketing, and paid advertising, the DSIM Editorial Team ensures that each piece of content is designed to educate and empower readers to succeed in the fast-paced world of digital marketing.