- Ontario Teachers’ Pension Plan joins shareholder group of Europe’s leading e-commerce fashion player through a capital increase
- Additional capital will further strengthen the balance sheet and enabling the company’s continued growth in its existing 14 European markets
- Canadian pension plan acquires around 2 percent of the shares in Zalando
Berlin, October 2nd, 2013. The leading global investment firm Ontario Teachers’ Pension Plan (OTPP) is joining Zalando’s shareholder circle. OTPP is the largest single-profession pension plan in Canada, providing long-term investment for Ontario’s teachers. Through a capital increase, the fund secured around 2 percent of the shares in Zalando. Further capital increases of up to 2 percent of the shares in Zalando may follow as part of this financing round, led by OTPP.
Managing director Rubin Ritter comments: “We are very happy to welcome OTPP on board as a very strong long-term investor. We all share a very positive common vision of the online fashion business and want to further strengthen our position as the market leader in European fashion e-commerce. To continue to build this position and our growth, it is a significant strategic advantage to be well equipped with capital.”
In August, Zalando announced Anders Holch Povlsen, the owner of BESTSELLER, as a new investor, acquiring 10 percent of the shares in Zalando, thereby becoming the company’s third largest investor following Investment AB Kinnevik with 36.5 percent and European Founders Fund with 17 percent. The German Federal Cartel Office has now cleared this transaction. Anders Holch Povlsen also participated in today’s capital increase pro-rata, keeping his share in Zalando constant at 10 percent.
Zalando is Europe’s leading online retailer for shoes and fashion. Working with over 1,500 interna-tional brands, Zalando offers an extensive selection of products for women, men and children, ranging from popular high street brands to much sought-after designer labels. Exclusive accessories and sportswear add to Zalando’s wide range of products. A combination of unique services – free delivery and returns, a free service helpline and an extended day returns policy – make online shopping at Zalando a convenient and secure online experience. The company was found-ed by Robert Gentz and David Schneider in 2008 and its headquarters are located in Berlin. Following its success in Germany, Zalando launched in Austria in 2009 and the Netherlands and France followed in 2010. In 2011 Zalando ex-panded into Italy, the UK and Switzerland. Since 2012 Zalando has also been available in Sweden, Belgium, Spain, Denmark, Finland, Poland, and Norway. Deliveries were extended to Luxembourg in 2013.