The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
FRANKFURT, Germany — Germany's Rocket Internet said on Wednesday the last portfolio value (LPV) of its stable of e-commerce investments had risen by 2.3 billion euros ($2.5 billion), or 47 percent, by the end of June from its stock flotation nine months ago.
Rocket's LPV totaled 4.85 billion euros at June 30, up from 2.6 billion on Oct. 2, 2014, according to company documents.
The company has set up dozens of e-commerce and online marketplaces for everything from fashion to meal deliveries, aiming to replicate the success of Amazon and Alibaba in emerging Africa, Latin America and Southeast Asia.
Most of the value lies in the company's 10 most mature companies, dubbed "proven winners", which collectively were valued at 3.43 billion euros, according to company data.
The biggest of these is food takeaway service Delivery Hero, in which Rocket holds a 38.5 percent stake. This had a last portfolio value to Rocket of 1.08 billion euros, Rocket said.
The "proven winners", which also include Global Fashion Group, HelloFresh and FoodPanda, had average weighted net revenue growth of 217 percent during the first quarter.
Rocket also said in a statement that it was on track to start another four company concepts this year, bringing the total of start-ups formed to 10.
The Berlin-based company also said it had invested to develop a new technology platform that was flexible enough to handle all types of business models.
By Eric Auchard and Georgina Prodhan; editors: Christoph Steitz and Maria Sheahan.
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