Rocket Internet allegedly eyeing IPO for Global Fashion Group

Startup investor and incubator Rocket Internet is working to take its Global Fashion Group (GGF) public, according to Manager Magazin. The group, made of various online fashion retailers, may file for an IPO as early as March next year, reported the newspaper without mentioning its sources. A spokesperson for Rocket Internet declined a request for comment.

According to Manager Magazin, the company has already hired an investment bank for the initial public offering. Management is due to meet with investors in London, with the company aiming for a €1.8bn to €2.5bn valuation. Global Fashion Group is planning to raise €500m through the IPO.

Rocket Internet founds and invests in new companies. Home24, Westwing, Hellofresh and Delivery Hero have all floated. Rocket Internet’s flagship investment is Zalando, which has become the largest online retailer in Europe. Meanwhile, GFG’s portfolio of brands also operates in the fashion market, but exclusively in Eastern Europe, Asia and Brazil.