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.
JAKARTA, Indonesia — Indonesia's MatahariMall.com raised $100 million in equity financing from investors led by Mitsui & Co. as it seeks to bolster its share of the nation's e-commerce market.
The money was raised from new and existing investors, the Lippo Group-backed company said in an e-mailed statement Wednesday.
E-commerce in Indonesia is booming as smartphone usage surges and connects more people to online shopping, giving rise to startups including Tokopedia. The country is projected to add internet users faster than any other country in the world through 2020, according to a report by Google and Temasek Holdings Pte.
MatahariMall.com is the latest in a series of Mitsui investments into online retail. In March, Mitsui led a funding round in Mercari, a Japanese online marketplace, valuing the firm at more than $1 billion.
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“Mitsui’s expertise and track record in technology and logistics will help boost the company’s growth plans,” MatahariMall.com chairman Emirsyah Satar said in the statement.
By Yoolim Lee and Yudith Ho; editors: Robert Fenner and Reed Stevenson.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.