The Ayala group has entered the e-commerce business with a deal to acquire a 49 percent stake in BF Jade E-Service Philippines, which owns and operates Zalora Philippines.
Zalora Philippines is currently the country’s largest online fashion platform offering a wide range of fashion and lifestyle products.
“Through the partnership with Ayala Corporation— one of the country’s longest standing and well diversified business corporations—Zalora Philippines will now not only be able to benefit from the support and expertise of GFG and Zalora but also from the synergies and support of the Ayala companies. We are confident that together, we are in a unique position strengthen the leadership of Zalora Philippines, as we deliver the best online fashion shopping experience to Filipino consumers across the archipelago,” Global Fashion Group CEO Romain Voog said.
“This investment demonstrates how we, at Ayala, look at innovation and growth opportunities. We see the potential of e-commerce in the country, and believe that the Ayala group can benefit and add tremendous value to Zalora. With resources in banking, real estate, and telecommunications, the investment presents new opportunities for Ayala to generate synergies throughout the e-commerce value chain,” said Ayala Corporation chairman and CEO Jaime Augusto Zobel de Ayala.
