Fashion e-commerce in the Philippines might be up for very exciting changes. The Ayala Group of companies now has a 49% ownership stake in Zalora Philippines, the country's leading online fashion destination. This buy-in is the business conglomerate's first venture into e-commerce.
"With the rising demands of the communities that we serve, we believe new business models such as Zalora’s can provide alternative solutions and services that are complementary to our traditional brick and mortar operations,” Ayala Group Chairman and CEO Jaime Augusto Zobel de Ayala said.
Ayala Group signed a strategic partnership agreement with Global Fashion Group, a company that specializes in setting brands up for e-commerce. The collaboration aims to develop Zalora Philippines' potential by combining Ayala's existing business resources with GFG's e-commerce expertise.
"This partnership with Ayala will allow us to further strengthen the leadership position of Zalora Philippines, as we invest more into delivering the best online fashion shopping experience for Filipino consumers," said Global Fashion Group CEO Romain Voog.
With this news out in the open, we can definitely expect more brands and service upgrades from Zalora in the future!