Retail giant Central Group is buying Zalora’s businesses in Thailand and Vietnam

Zalora, the fashion-focused e-commerce site backed by Rocket Internet, is selling its businesses in Thailand and Vietnam to retailer Central Group, according to multiple sources close to the deal.central-world-1

We reported the planned sale earlier this month and have since confirmed that Bangkok-headquartered Central Group is the buyer. The deal is said to be agreed on in principle and currently subject to paperwork and red tape.

A Zalora spokesperson declined to comment. Central Group did not respond to multiple requests for comment.

Central Group may not be a name well-known outside of Southeast Asia, but it is one of the region’s largest retail players with a huge footprint in Thailand and forays into Vietnam, Malaysia, Indonesia and other countries. The group’s assets, which include multiple shopping malls and national department store chains, are worth close to $10 billion and it employs some 70,000 people across its operations.

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