British International Investment

Global Fashion Holdings

Rest of the WorldConsumer - other services

Global Fashion Group (GFG) is an emerging markets online clothing company, formed in 2015 through the merger of five online clothing businesses.

This investment was made when British International Investment was named CDC Group.

We have now exited this investment. This is what we achieved.

Achieved impact

This information will appear shortly

Expected impact

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.

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.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    March 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D191
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Exited
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    Rest of the World
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Consumer - other services

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Equity
    Start date :
    July 2015
    End date :
    July 2020
    Amount :
    $1.31m
    Currency of investment :
    EUR
    Domicile

    The company or investment fund’s place of incorporation.

    :
    Germany

Related investments made by BII into this company:

Investment name Commitment Region Sector Start date Status
Investment 01 $27.17m Rest of the World Consumer - other services November 2013 Exited
Investment 03 $2.64m Rest of the WorldRest of the World Consumer - other services July 2016 Exited

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