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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
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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.