J.P. Morgan Asset Management, a subsidiary of the financial services enterprise J.P. Morgan Chase & Co., is becoming more and more Rocket Internet’s next big investor, or rather, the Berlin incubator’s Startups’ investor, trailing just slightly behind Kinnevik, New Enterprise Associates (NEA), ru.net and co. In the last few weeks, J.P. Morgan has invested millions in the German shoe and fashion store Zalando (www.zalando.de), the Brazilian pendent Dafiti (www.dafiti.com.br), the Russian shop Lamoda (www.lamoda.ru) and the brand new southeast Asian Amazon adaptation Lazada (www.lazada.co.id), active in Indonesia, Thailand and Vietnam, among others.
“We’re looking toward the future and are very excited about working together with Zalando,” says Robert Cousin, Managing Director at J.P. Morgan Asset Management. “In just a short time, the enterprise has established itself as one of the leading online fashion dealers in Europe. Zalando’s fast-growing, loyal customer base is just as impressive as their gigantic product range. We are sure that the strong focus on the core competences, logistics and customer service, will further strengthen Zalando’s market leadership.” On working with Dafiti, Cousin says: “we have been following Dafiti and have been impressed with what the company has accomplished, becoming one of the largest online fashion retailers in Brazil in the span of a year. Dafiti’s loyal and growing customer base, fulfillment capacity and dedication to superior customer service should enable the company to expand upon their leading market position in the months and years to come.” J.P. Morgan has invested about 45 million US dollars in Dafiti. The shoe and fashion shop is not just active in Brazil, but also in Argentina, Chile, Columbia and Mexico.
As the Russian newspaper Kommersant reports, J.P. Morgan has invested 8o million dollars in the Russian shop Lamoda. J.P. Morgan Manager Cousin says, about the deal: “we believe Lamoda is in an excellent position to capture the rapid growth of Russia and its adjacent markets. Our investment will help the company expand its operational capabilities and customer service resources.” According to DailySocial, “more than $100 million” are said to have flowed into the newest building block in the liaison between J.P. Morgan and Rocket Internet. We’ll have to wait and see whether more investments are to come after these four and when the first of these candidates dares to go public.