Rocket Declines as Fashion Unit Raises Cash at Lower Value
- Value of investor's Global Fashion Group drops to $1.1 billion
- Unit includes fashion retailers Zalora, Dafiti, Lamoda, Namshi
This article is for subscribers only.
Rocket Internet SE fell 14 percent in Frankfurt after a funding round by the startup investor’s Global Fashion Group valued the online retailer at less than half of what it was worth a year ago.
Rocket, which owns about 23 percent of Global Fashion Group, said the unit was valued at 1 billion euros ($1.1 billion), compared with an implied valuation of 2.8 billion euros a year ago. Sweden’s Investment AB Kinnevik, which owns 26 percent of the group, lost 3 percent in Stockholm.