May 19, 2020

Perth Airport set to become WA shopping hub with new $150mn DFO store

Perth Airport
Australian retail industry
DFO Australia
Addie Thomes
2 min
Perth Airport set to become WA shopping hub with new $150mn DFO store

The first DFO fashion outlet store in Western Australia will be built at Perth Airport in a project costing around $150mn.

Being jointly funded by Vicinity Centres and Perth Airport, construction of the retail space is already underway with the centre due to open next year.

With 120 specialty stores, the centre will offer customers international designers, premium apparel, mainstream fashion, childrenswear, lifestyle and home wares and sports and adventure, all on one 24,000sqm ground floor level.

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The centre will also include a selection of contemporary food and dining options, playground facilities and parking for more than 1,500 cars.

Vicinity Centres Executive General Manager of Development, Carolyn Viney, said: “We are excited about the unique opportunity that we have to create Perth’s first premium outlet centre which will build on Vicinity’s extensive DFO eastern States expertise.

“With DFO offering up to 70% off designer brands all year round, Western Australians will soon be able to enjoy all the brands they love at the best prices.

“A new home for fashion, we are confident DFO Perth will become shoppers and their wallet’s new best friend.”

Perth Airport, Chief Executive Officer, Kevin Brown added: “The development is creating an estimated 900 direct jobs including 250 jobs throughout construction and 650 ongoing retail and hospitality roles at the completed centre.”

“The new DFO will add to the vibrancy of our city and our tourism offering to attract visitors to Perth and Western Australia.”

DFO already has five centres located in Australia’s eastern states with the existing portfolio made up of DFO Homebush in New South Wales, DFO South Wharf, DFO Essendon and DFO Moorabbin in Victoria and DFO Brisbane in Queensland.

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Jun 8, 2021

Timeline: India takes unicorn leap with six in five days

India
Unicorns
Startups
tech
Kate Birch
2 min
We chart an historic week in India’s startup tech industry, where from April 5-9 the country achieved six unicorns

We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.

April 5: Meesho

India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.

April 6: CRED

Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.

April 7: API Holdings / Groww

The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.

April 8: ShareChat

New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.

April 9: Gupshup

AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels. 

 

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