The Ayala group has completed its acquisition of a 49-percent stake in the country’s leading e-commerce platform Zalora Philippines from Global Fashion Group (GFG).
GFG announced on Thursday the transfer of the shares in Zalora to the country’s oldest businessA business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers. house.
Conglomerate Ayala Corp., through its wholly-owned subsidiary, AC Ventures Holding Corp., invested in ZALORA Philippines alongside wholly-owned subsidiaries Ayala Land, Bank of the Philippine Islands and Globe Telecom.
“This acquisition allows Ayala to capture the growing opportunities in e-commerce,” Ayala Corp. said.
More than 1,000 international, local and private-label fashion brands are currently available on ZALORA Philippines, including a range of international high street brands including Mango, Abercrombie & Fitch, Boss, Calvin Klein and popular local brands such as Bench, CLN and Penshoppe.
“This partnership will allow ZALORA Philippines to keep investing in brandsA brand (or marque for car model) is a name, term, design, symbol or other feature that distinguishes one seller’s product from those of others. Brands are used in business, marketing, and advertising. Initially, livestock branding was adopted to differentiate one person’s cattle from another’s by means of a distinctive symbol burned into the animal’s skin with a hot branding iron. acquisition, marketing, and logistics infrastructure and will leverage Ayala’s key businesses representing some of the country’s leading companies in banking, telecommunications and retailRetail is the process of selling consumer goods and/or services to customers through multiple channels of distribution to earn a profit. Demand is created through diverse target markets and promotional tactics, satisfying consumers’ wants and needs through a lean supply chain. In the 2000s, an increasing amount of retailing is done online using electronic payment and delivery via a courier or postal mail. Retailing includes subordinated services, such as delivery. business,” CFG said.