Bertelsmann acquires a stake in Roposo, a mobile first social network focused on fashion. The company founded in 2014 has built a platform on which users share and discover content around fashion and lifestyle as well as shop products from across 500 web stores and 5,000 brands. India is one of Bertelsmann’s strategic growth regions alongside Brazil and China.
Pankaj Makkar, Managing Director of Bertelsmann India Investments, said: “Roposo’s product and business model harbor enormous potential. Its management team has very quickly turned the company into one of the best-known fashion social networks in India. With leaders such as multi-channel network StyleHaul in the US and social network Mogujie in China in the Bertelsmann family, we are excited to now work with Roposo to make it the leading fashion destination in India.”
Roposo is the latest of several Bertelsmann investments in India. The Group most recently invested in the e-commerce enabler KartRocket, the home and furnishing marketplace Pepperfry, and the music-streaming service Saavn. Other investments include the digital real-estate marketplace India Property, the higher education provider iNurture as well as Authorgen Technologies and its online education platform WizIq. Above and beyond this, several Bertelsmann divisions are active in India: Fremantle Media, the production arm of RTL Group, is successful in India with shows like “Indian Idol,” “The X Factor” and “Got Talent.” Penguin Random House is the largest English-language publisher in the country, and Arvato provides customer & marketing services to international clients. In total, Bertelsmann employs 2,370 people in India.
Source: Bertelsmann Press Release
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