NEW YORK CITY (dpa-AFX) - Dafiti, fashion e-commerce retailer from Brazil, announced that J.P. Morgan Asset Management will invest US$45 million in the company. J.P. Morgan Asset Management will take a stake in Dafiti through a German holding company in an all cash-for-equity investment.
Dafiti is a multi-label fashion e-commerce retailer that specializes in apparel, shoes, accessories, beauty as well as home & decor.
'We see this investment as a strong vote of confidence in our vision as well as our business. This investment will allow us to strengthen our portfolio of products, offering our customers even more brand and product choices; amass more inventory, making delivery of our products faster and more efficient; and finally, expand our presence in other countries in Latin America, namely Mexico, Argentina, Chile and Colombia,' said Dafiti co-founder Philipp Povel.
Dafiti was launched in January 2011, with the support of Rocket Internet - the European incubator of internet start-ups - and is led by its four founders Malte Horeyseck, Malte Huffmann, Thibaud Lecuyer and Philipp Povel.
Dafiti offers more than 60,000 products and 550 Brazilian and international brands and employs more than 1,000 people and has its distribution center in Jundiai, Sao Paulo.
Copyright RTT News/dpa-AFX