Ayala Land Inc (PSE:ALI) has acquired an ownership stake in online fashion platform Zalora Philippines (Zalora), the country’s largest online fashion destination.
Ayala Land joined Ayala Corporation, BPI Capital Corporation, and Kickstart Ventures, a wholly-owned subsidiary of Globe Telecom Inc in signing an investment agreement to acquire stakes in BF Jade E-Service Philippines, the owner and operator of Zalora Philippines.
In a disclosure to the Philippine Stock Exchange, Ayala Land Inc’s Senior Vice President Jaime Ysmael said the investment forms part of ALI’s strategy to capture the growing opportunities in e-commerce amid a robust domestic consumer market and an increasingly digital environment.
Through this transaction, ALI will own 1.91% of Zalora Philippines. Zalora offers over 120,000 products across more than 1,000 brands in accessories, beauty, clothing, shoes and sports.
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Zalora’s online fashion business is complemented by a proprietary, robust, and scalable logistics platform that effectively utilizes online channels and technology.
Ayala Land’s stock (PSE:ALI) was down 1.73% in today’s trading at the Philippine Stock Exchange, ending the day at P36.95 a share. A total of 16 million shares with a value of P597.5 million exchanged hands.
Ayala Land Aims for Carbon Neutrality by 2022
Ayala Land, Inc. also informed the PSE that it is embarking on an aggressive plan to reduce the greenhouse gas (GHG) emissions in its commercial properties and aim for carbon neutrality by 2022.
The company plans to achieve this through a combination of initiatives, which include passive cooling design, energy efficiency, renewable energy sourcing, and carbon offset mechanisms such as forest regeneration and protection.
“As we execute and accomplish our plans, we firmly believe that our company’s success and growth cannot be measured solely in terms of profitability and market presence,” said ALI Chairman Fernando Zobel de Ayala. “We are mindful of our corporate sustainability targets and our efforts to set new goals, such as carbon neutrality, affirm our commitment to sustainable and inclusive growth.”
ALI is the only Philippine company included in The Sustainability Yearbook 2017, the most comprehensive publication on corporate sustainability produced by Swiss international investment company RobecoSAM. – BusinessNewsAsia.com