The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Rocket Internet Trims Losses at Main Start-Ups

Rocket Internet said it had made progress to cut losses at its main start-ups and reiterated that it expected three of them to turn profitable by the end of 2017.

Reuters

22 September 2016

BERLIN, Germany – German e-commerce investor Rocket Internet said on Thursday it had made progress to cut losses at its main start-ups and reiterated that it expected three of them to turn profitable by the end of 2017.

Rocket Internet, which has seen its shares slide on concerns about mounting losses, said the aggregate adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) margin of its top start-ups rose to minus 17 percent in the first half of 2016 from minus 32 percent a year ago.

Revenues rose an average of 32 percent to €1.043 billion ($1.17 billion).

Rocket also said it has expanded its existing convertible buyback programme, saying it may spend an additional €85 million on convertible buybacks by Sept. 30, 2017.

By Emma Thomasson; editor: Eric Auchard.

In This Article

Topics

Technology

Organisations

Rocket Internet

Location

Berlin, Germany

Meeting Consumer Expectations Through Augmented Reality, In-Store and Online

Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.