DTI Secretary Ramon M. Lopez (R) with Zalora Co-Founder Christoph Barchewitz (L)
LONDON – During the London Roadshow, Department of Trade and Industry (DTI) Secretary Ramon M. Lopez met Zalora Co-Founder Christoph Barchewitz to discuss the company’s future prospects in the Philippines (PH). Zalora is part of the UK-based Global Fashion Group, with operations in Southeast Asia, South America, Middle East, Russia, Australia, and New Zealand.
“The robust Philippine economy under the Duterte administration leads to a growing middle class that has greater purchasing power. The generally young population is also tech-savvy. This provides the perfect market for Zalora’s brand and its e-commerce business model,” said Secretary Lopez.
Barchewitz said that he’s excited for opportunities in PH, especially in the emerging second and third-tier cities. “We know it’s a long-term horizon. But already today, majority of our orders come from outside Metro Manila, which reflects the faster economic growth happening in the regions.
When asked about the PH policy environment, Barchewitz said that they’re “very happy” and that they have “invested a lot of money”, which they intend to increase.
The London Roadshow, held last Sept 21-27, was organized to encourage British investors to invest in or expand their operations in the Philippines.♦
Date of release: 9 October 2018