The American Hedge Fund Company, Tiger Global, has become one of the biggest investors and promoters for Indian fashion retail sites. The New York-based company is known for investing in past startup projects like iconic social media site Facebook and online development gaming business Zynga. Now the company has actively involved itself in Indian Fashion by investing in different retail businesses and fashion sites specifically located in the country of India.
On June 26th, one of Tiger Global’s portfolio businesses, Myntra, acquired rival company, Jabong, for 70 million dollars. With this acquired property, Tiger Global is planning to become the leader of a new fashion industry.
Tiger Global has recently invested in Indian retail sites like Roposo, UrbanTouch, Limeroad, Zovi.com, Flipkart and Shopclues. Economists have recently reported that the best Indian startup companies to invest in are involved in the fashion industry. 157 Indian online fashion sites have been making high profits in clothes, accessories and shoes, all totaling up to over $398.2 million dollars worldwide.
Tiger Global has become one of the most active startup investors in India over the last ten years or so. The company has also invested in other Indian industry sectors, like e-commerce, content creation, news and consumer Internet companies.
This year Tiger Global has recently decreased the amount of investments they usually are involved in due to a global conservation of investing into high-risk businesses. Although the Wall Street Journal claims Tiger Global is conserving their money, not because of a global funding decrease, but because the company has lost over 1 billion dollars in paper loss during the first few months of 2016.
This paper loss mishap is plaguing a possible decline in the Indian fashion industry if Tiger Global doesn’t plan to collaborate with Indian online startup retailers in the near future. Tiger Global has yet to comment on its future investments and what plans they are making to pay off the 1 billion dollar revenue loss.
