- Play Hard GmbH acquires Zalando’s subsidiary KICKZ with acquisition expected to be completed in the first quarter of 2020
- Operations of webstore and 11 physical stores continue without changes
- Zalando decides to sell KICKZ in line with its ambition of becoming the Starting Point for Fashion
BERLIN, DECEMBER 16, 2019 // Zalando, Europe's leading online platform for fashion and lifestyle, continues its assortment strategy to pursue a complementary approach with its partner brands. As a consequence, Zalando sells subsidiary KICKZ Never Not Ballin' GmbH to Play Hard GmbH, represented by Jacob Fatih and Philipp Buchholtz. The acquisition is expected to be completed in the first quarter of 2020. Play Hard GmbH is a subsidiary of Crealize GmbH. As a company creator, Crealize develops new business models and companies.
Zalando acquired KICKZ in 2017 to gain access to basketball and streetwear products and attract customers that were not yet part of the platform. In the last two years, Zalando expanded its assortment to an extent that largely overlaps with the KICKZ offering.
In February 2019, Zalando announced its refined platform strategy that focuses the entire organization on the goal to become the Starting Point for Fashion. Zalando aims to deepen its relationship with its customers by tailoring its offer and investing in areas that add the most value for customers. From this perspective Zalando has reviewed the KICKZ business over recent months and has come to the conclusion that it does not contribute to the refined strategy. With this, Zalando decided to sell KICKZ to an experienced buyer team.
The sale does not affect KICKZ employee contracts in substance. The KICKZ webstore and the eleven physical KICKZ stores will continue their operations without changes.