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iFashion Group acquires Megafash, Singapore’s leading luxury marketplace

By Angela Gonzalez-Rodriguez

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iFashion Group, a company invested by Fatfish Internet Group (ASX:FFG), announced Thursday the acquisition of Megafash, Singapore’s prime lifestyle marketplace for 3.15 million Singapore dollars in cash and shares.

In a disclosure to the Australian Securities Exchange (ASX), Fatfish said the acquisition will not only strengthen iFashion’s portfolio and pave the way to securing and initial public offering, it will also bring the company one step closer to becoming Southeast Asia’s leading online fashion retailer.

Less than two years since its launch in December 2015, Megafash has established itself as one of the most prominent and respected lifestyle brands in Singapore. It generated revenues of 8 million Singapore dollars in 2016.

“It’s an exciting time for us at Megafash. The brand has grown significantly in 2016, our revenue grew five times from 2015. Megafash continues to grow as Singapore’s leading lifestyle marketplace. In fact, in December we received as many as 2,000 orders a day. As part of the expansion plans, we are looking to expand our operations overseas and to double our retail outlets in Singapore,” Megafash’s CEO and Co-Founder, Jiawen Ngeow said.

iFashion Group
Megafash