J.P. Morgan Asset Management Invests USD 45 Million in Brazil’s Dafiti
J.P. Morgan Asset Management, a global leader in investment management with assets under supervision of approximately $2.0 trillion and assets under management of $1.3 trillion, will invest USD 45 million (R$90 million) in Dafiti, Brazil’s largest fashion e-commerce retailer.
Launched in January 2011, Dafiti platform today offers more than 60,000 products and 550 Brazilian and international brands.
“We see this investment as a strong vote of confidence in our vision as well as our business,” said Dafiti co-founder Philipp Povel. “This investment will allow us to strengthen our portfolio of products, offering our customers even more brand and product choices; amass more inventory, making delivery of our products faster and more efficient; and finally, expand our presence in other countries in Latin America, namely Mexico, Argentina, Chile and Colombia.”
J.P. Morgan Asset Management Managing Director Robert Cousin, who worked on the deal from New York, echoed Povel, saying, “We have been following Dafiti and have been impressed with what the company has accomplished, becoming one of the largest online fashion retailers in Brazil in the span of a year. Dafiti’s loyal and growing customer base, fulfillment capacity and dedication to superior customer service should enable the company to expand upon their leading market position in the months and years to come.”