Global Fashion Holdings

Rest of the World Other consumer services

Global Fashion Group (GFG) is an emerging markets online apparel company, formed in 2015 through the merger of five online fashion businesses. The business has passed the €1 billion sales mark, making it one of the world’s leading online apparel companies.

Our investment

In August 2013, CDC invested €20 million of equity capital into Jabong, a top Indian apparel ecommerce platform to help drive the growth of the business and develop its supply chain network.

In 2015, CDC became a shareholder in GFG as a result of the merger of Jabong into GFG. In August 2015 and June 2016, CDC invested a further €1.2 million and €2.4 million, respectively, into GFG.

Expected impact

GFG’s continued growth has the potential to connect millions more customers with thousands of small suppliers. This will create direct jobs as well as generating thousands more indirect jobs throughout its supply chain and distribution network.

For example, we estimate that in India alone our investment in Jabong directly supported the creation of tens of thousands of jobs in the company’s supply chain.

Environmental and social aspects

CDC has played a leading role in developing the sustainability strategy at GFG (and Jabong previously), setting up and participating in the board’s Sustainability Committee.

GFG is now a full member of the Ethical Trading Initiative (ETI) and is supporting improvements in working conditions, human rights and job quality across its global supply chains.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Rest of the World
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Other consumer services
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
November 2013
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$29.4m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Germany