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.
The Indonesian e-commerce and ride-hailing start-ups have confirmed their proposed deal and will create a new entity called GoTo. The company could be valued at up to $40 billion, DealStreetAsia reports.
Goto will be led by Tokopedia CEO William Tanuwijaya and president Patrick Cao; alongside Gojek’s co-CEOs Andre Soelistyo and Kevin Aluwi. Tokopedia and Gojek shareholders will own 42 and 58 percent of the company respectively, according to Bloomberg.
Goto’s services will span e-commerce, courier services, food delivery, ride-hailing and more; estimates from this month peg its valuation at around $18 billion.
The announcement follows news that Singaporean ride-hailing giant Grab will go public in the US in the world’s largest SPAC merger, which would also value that start-up at around $40 billion. Experts expect that the debut will spur a listing spree by Southeast Asian tech firms, including Goto.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.