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Rocket Internet’s fashion house GFG raises €32 mn & appoints former Amazon exec as CEO

Today, the Board
of Directors of Global Fashion Group (GFG), the world’s leading emerging
markets fashion e-commerce group, announced the completion of its merger, an
additional € 32 million funding round at a post-money valuation of €2.8 billion,
and the appointment of Romain Voog as CEO and Nils Chrestin  as CFO.

The funds were
raised from existing shareholders Tengelmann Ventures and Verlinvest.

Today, the Board
of Directors of Global Fashion Group (GFG), the world’s leading emerging
markets fashion e-commerce group, announced the completion of its merger, an
additional € 32 million funding round at a post-money valuation of €2.8 billion,
and the appointment of Romain Voog as CEO and Nils Chrestin  as CFO.

The funds were
raised from existing shareholders Tengelmann Ventures and Verlinvest.

43 year old Romain Voog and 34 year
old Nils Chrestin will be responsible for the overall strategic and operational
development of GFG as well as the various group functions, with the Dafiti
(Latin America), Jabong (India), Lamoda (Russia and CIS), Zalora (South East
Asia and Australia) and Namshi (Middle East) management teams continuing to
lead the strong regional fashion e-commerce platforms.

The developments
at GFG speak to how Rocket Internet and GFG’s other shareholders — the three
largest investors are Kinnevik (25.1%), Rocket (23.5%) and Access Industries
(7.4%) — are looking for better economies of scale in its operations.

Furthermore,
GFG, under the lead of Romain and Nils, will develop solutions to leverage
know-how across the group even better, scale operations and hone its global
infrastructure to strengthen its position as the #1 fashion destination for
emerging markets.

Romain Voog
joins GFG with 13 years of online and offline retail experience and a
background as a strategy consultant. He spent the last seven years at Amazon,
most recently as the company’s President and Managing Director for France.
Prior to Amazon, he spent 6 years at Carrefour in various leadership roles and
is a former strategy consultant from Boston Consulting Group and Bain &
Company in Europe and in Asia. Romain holds a general engineering diploma from
Ecole Centrale Paris.

Nils Chrestin
has spent the last two years as Managing Director and CFO of Lamoda in Moscow
prior to becoming GFG’s CFO in January 2015. Prior to his role at Lamoda, Nils
was a private equity investor at Morgan Stanley Private Equity. Nils has over
10 years of experience and graduated from Ludwig-Maximilian-University in
Munich with a mathematics diploma.

“We are
delighted to announce the appointment of Romain as GFG’s new CEO. He brings
most valuable additional e-commerce expertise to complement the outstanding
work performed by our regional leaders. He and Nils will be a great team to
drive operational excellence across the various business units”, says Lorenzo
Grabau, Chairman of GFG.

“I am thrilled to join GFG as CEO. I look
forward to working with our outstanding teams on the next stage of developments
of our five regional businesses and to building the leading fashion e-tailer of
emerging countries”, says Romain Voog, CEO of Global Fashion Group.

“I very much
look forward to working with Romain and our regional management teams to
continue driving global best practices, integration and economies of scale
across GFG”, says Nils Chrestin, CFO
of Global Fashion Group.

Global Fashion
Group operates across four continents and 27 countries, employing over 9,500
people. With a focus on emerging markets, GFG targets a EUR 630 billion fashion
market and over 2.5 billion people who rapidly continue to move online and
purchase via e-commerce. GFG was founded in 2011 by Swedish Investment AB
Kinnevik and German Rocket Internet SE. 

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