Zalora Group CEO Parker Gundersen told Singapore based tech media platform, e27, that Zalora’s focus right now is about growing in its key markets. “We did sell Thailand and Vietnam last year … [But] this is a very different situation in Indonesia and the Philippines where we are committing more to the Philippines, and I think Indonesia is the same way. We want to continue grow the business in the best way we see possible,” Gundersen was quoted as saying by e27.
He stressed on to make it “very clear” that “the speculation that Zalora is closing down in Indonesia is simply not accurate,” he stressed.
There were speculations that Zalora could be selling its assets to the Ayala Group in Philippines. Gunderson told e27 that in fact it was actually the opposite. “The Ayala Group is actually making a strategic investment in our Philippines entity, and this is used to further accelerate our growth in the country. So the funds that are raised through this are staying in the Philippines, and used to grow the business,” he said.
In regards, if the online fashion platform was in talks with retail giant MAP Group for an acquisition in Indonesia, the Group CEO clarified, “Zalora Indonesia is working with MAP Group today as a supplier; and the two companies are in close discussions about adding new brands to the site.” He added that the two were not engaged in any specific discussion about a direct investment into Zalora.
