UPDATE 1-Rocket Internet creates emerging market online fashion firm
* Five fashion start-ups cover 23 countries
* Hopes for branding, sourcing, staff, technology synergies
* Move to simplify ownership ahead of likely IPO
* Five still losing money but raising plenty of cash (Adds detail, background)
By Emma Thomasson
BERLIN, Sept 4 (Reuters) - German venture capital group Rocket Internet is bringing together its five emerging market fashion brands to create a company worth 2.7 billion euros ($3.6 billion) and simplify its structure before a likely stock market listing.
The deal, agreed with major Swedish investor Kinnevik , aims to untangle complex cross-holdings by investors in Rocket and its most successful start-ups before an initial public offering that could be announced as early as next week.
Zalando, Europe's biggest online fashion firm that Rocket Internet also helped launch, said on Wednesday it planned to list soon, joining a flurry of e-commerce flotations set to be crowned by Chinese giant Alibaba IPO-ALIB.N.
Rocket Internet is bidding to create the largest Internet empire outside the United States and China. It wants to replicate the success of Amazon and Alibaba in markets the U.S. and Chinese e-commerce groups have yet to dominate, such as Africa, Latin America, Russia and other parts of Asia. Continuación...