Berlin The e-mail came as a surprise, and, moreover, to an unusual time. Officially wanted to present its half-year figures until September 22 Rocket Internet. But the accountants in the start-up factory was noticed that for the months of January to June a loss of 617 million has been recorded. In such a case, a listed company must publish an ad hoc announcement.
At eight minutes past midnight Rocket sent as a precaution a press release, it was pointed out in that especially the impairments in the Global Fashion Group (GFG) impact Group earnings. The GFG is a group of Zalando clones operate the online stores, among other things in Dubai, in Russia or Southeast Asia.
Rocket Empire to the test the global betting of Oliver Samwer
In April had Rocket and the other major investor, the Swedish Kinnevik Group in Setting the mode startup announced a cash injection of 300 million. In July the business was closed. In this context, the company has been re-evaluated, with one billion dollars, two billion less than previously. In the first quarter of the year, sales of the Global Fashion Group rose by 25.7 percent, with any unreacted Euro makes the group but still 23.4 cents loss
The clothes business is highly capital-intensive. If an online store is to be profitable, it needs a lot of customers that are advertised with enormous marketing effort. this effort too big – In India, a country with a lot of competition, the GFG and their investors – in addition to the Rocket is mainly the Swedish Kinnevik Group. The GFG subsidiary Jabong was sold, presumably at a price which was below the investment involved.
This tells Oliver Samwer itself
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