German startup Rocket Internet has partnered with Swedish investment company Kinnevik to create a global fashion e-commerce group.

The partnership will see them combine five fashion e-commerce businesses – Dafiti (Latin America), Jabong (India), Lamoda (Russia and CIS), Namshi (Middle East) and Zalora (Southeast Asia and Australia) to create a new global fashion e-commerce group called Global Fashion Group (GFG).

GFG will operate across the five continents with a focus on growth markets, covering 23 countries with a 330 billion euros fashion market and population of over 2.5 billion people who continue to move rapidly online and purchase via e-commerce.

It will market a wide assortment of international apparel and accessories brands, a tailored selection of highly engaging internally developed brands and local assortments developed for specific ethnic markets notably in India, Indonesia and the Middle East.

It will maintain multiple business models including full inventory, branded shops and marketplaces tailored to the opportunities within the local markets.

Lorenzo Grabau, CEO of Kinnevik, said: “The creation of GFG brings together five powerful digital brands led by a unique group of highly talented founders and managers. By operating as a single entity, Dafiti, Jabong, Lamoda, Namshi and Zalora will be even more effective in expanding their leadership positions in their respective marketplaces.”