March 03, 2017
ZALORA Philippines is looking to build on synergies with its minority shareholder, the Ayala group, to capture a bigger slice of the growing e-commerce market in the country.
Zalora Philippines cofounder and CEO Paul Campos III said that they are very bullish and they will try to grow at pace with the market which will be challenging given how fast the market is growing.
Last week, Ayala Corp. announced it was acquiring a 43.3% ownership stake in BF Jade E-Service Philippines, which operates Zalora Philippines. Other Ayala companies -- Ayala Land, Inc., BPI Capital Corporation and Globe Telecom, Inc.'s Kickstart Ventures, Inc. have also taken smaller stakes.
Mr. Campos expects the Ayala investment to further drive the company's growth, as the Philippine e-commerce market is expected to expand in the next 10 years.
Zalora wants to become the preferred e-commerce platform of choice for offline retailers, and Mr. Campos believes the partnership with Ayala Land can help convince retailers that they're "here to stay."
Zalora pop-up stores, as well as order collection points and virtual dressing rooms, will be established in Ayala malls.
The online fashion platform also sees tie-ups with Globe, such free mobile app access to subscribers, exclusive offers, and integration of Mynt payment products and services.
With BPI, Zalora is looking at possibly creating a co-branded credit card, as well as installment payment options and rewards for the bank's customers.
Source: Business WorldGo Back To News & Events