Rocket Internet hires a former Amazon exec as CEO of Global Fashion Group
April 8, 2015 11:42 AM
(Bloomberg)—Global Fashion Group, the online retailer backed by Rocket Internet SE, said investors Tengelmann Ventures GmbH and Verlinvest SA provided 32 million euros ($35 million) of new financing, paving the way for a potential initial public offering.
Following the investment, which valued the company at 2.8 billion euros, Berlin-based Rocket owns 23% and Sweden’s Investment AB Kinnevik holds 25.4%, the company, known as GFG, said Wednesday.
The e-commerce business, which Rocket and Kinnevik formed by combining retailers in emerging markets including Russia, Brazil, India, the United Arab Emirates and Malaysia, named Romain Voog as CEO and Nils Chrestin as chief financial officer.
Voog, 43, joins from Amazon.com Inc., No. 1 in the Internet Retailer 2014 Top 500 Guide, where he was most recently managing director for France. Chrestin, 34, worked previously at GFG’s Russian website Lamoda.
“GFG, under the lead of Romain and Nils, will develop solutions to leverage know-how across the group even better, scale operations and hone its global infrastructure,” the company said.