I agree with the article "Rocket Internet: neither fish nor fowl" at FT.

"Rocket-invested companies have annual revenues of more than Euros750Million; the extent of their annual profits or losses is unknown. Swedish investment group AB Kinnevik, which holds stakes in Rocket and related companies, disclosed annual operating losses totalling Euros280Million at six of Rocket's most mature companies (Lamoda, Dafiti, Namshi, Zalora, Home24 and WestWing). ........
The business model evokes an earlier era. Fifteen years ago, two of the hottest tech companies were incubators that held stakes in start-ups - Idealab and Internet Capital Group. ICG went public and had a market capitalisation of USD60Billion in December 1999, before it came crashing down (today its market capitalisation is USD750Million). Idealab, valued at USD7.9Billion in private fundraising, filed for an IPO in 2000 but later withdrew. Keep the history in mind as Rocket moves from incubator towards conglomerate. "

and today
AB Kinnevik and Rocket Internet to create global fashion e-commerce group: Global Fashion Group ("GFG" valuation of Euros2.7Billion).
http://www.kinnevik.se/en/Media/Press-releases/Kinnevik-and-Rocket-Internet-to-create-global-fashion-e-commerce-group/
Dafiti, Jabong, Lamoda, Namshi and Zalora to be combined into a single group of emerging markets focused fashion e-commerce brands
http://techcrunch.com/2014/09/04/rocket-internet-consolidates-5-emerging-market-fashion-brands-into-one-3-5b-gfg/

Global Fashion Group "GFG"  largest shareholders are:
http://www.gruenderszene.de/allgemein/global-fashion-group-rocket-kinnevik
     Investment AB Kinnevik with 25.1%,
     Rocket Internet AG. with 23.5% and
     Access Industries with 7.4%

My bet: AB Kinnevik plans soon a Global Fashion Group "GFG"  IPO, like Zalando AG.'s IPO, to recover all the money they had invested and get rid of Rocket Internet AG. as its partner.
I suspect no one of those companies are designed to be profitable ever. They have big losses because they sell below cost to gain traction. All cloned companies seem like bubbles.


Please see:
Euros 35 million subsidy for Zalando
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/08/euros-35-million-subsidy-for-zalando.html
Rocket Internet AG. / All ventures are created using a complex system of shell companies. /
Jade, Juwel, Brillant, Bambino, Platin and others.
See Jade 1076. GmbH. and Jade 1085. GmbH. as sample
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/08/rocket-internet-ag-all-ventures-are.html
Secret papers: How the Samwer bros. woo investors.
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/02/secret-papers-how-samwer-bros-woo.html
Some analysis and comments about "Frontal21-Doku: Die große Samwer-Show"
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/08/some-analysis-and-comments-about.html
Rocket Internet AG. Q2 2014 financials via AB Kinnevik
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/07/rocket-internet-ag-q2-2014-financials.html
German Incubator "Epic Companies" GAME OVER?
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/09/german-incubator-epic-companies-game.html
Rocket Internet AG accumulates up to Euros 50 million loss per month ?
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/08/rocket-internet-ag-accumulates-up-to.html