BERLIN, AUGUST 13, 2013 // Anders Holch Povlsen, the well-known fashion entrepreneur and owner of BESTSELLER, joins the Zalando shareholder group, acquiring 10 percent of the shares in Zalando. BESTSELLER is one of Europe’s leading fashion companies, with fashion brands such as JACK & JONES, VERO MODA, ONLY and SELECTED.
The parties agreed that Holch Povlsen will acquire shares from several early-stage shareholders, such as European Founders Fund (EFF), Holtzbrinck and Tengelmann. All of the selling shareholders remain invested in Zalando.
”BESTSELLER and Zalando have been working together very successfully for several years. Anders Holch Povlsen has been following Zalando’s development very closely and he knows our strengths,” explains David Schneider, co-founder and managing director of Zalando. “To partner up with such an experienced fashion entrepreneur is amazing for us.”
“This is an important step in the strategic development of our shareholder structure. Anders Holch Povlsen will be a strong and long-term-oriented shareholder and together we want to design the future of fashion e-commerce,” expresses Rubin Ritter, managing director of Zalando.
Zalando was founded in 2008 and has shown strong growth ever since. In 2012, Zalando reached more than 1.15 billion EUR in revenue and break-even in its core region DACH (Germany, Austria and Switzerland). For Q1 2013, net revenues were 372 million EUR, a 74% increase compared to last year, while becoming one of the world’s most visited fashion websites with already 15 million customers.
After this step, the shares of Zalando will be held as follows:
- Investment AB Kinnevik: 37%
- European Founders Fund: 18%
- Anders Holch Povlsen: 10%
- DST Global: 9%
- Holtzbrinck Ventures: 8%
- Tengelmann Ventures: 6%
- Others: 12%
Please also note the press release regarding Zalando's shareholder structure, published earlier today: http://www.zalando.co.uk/press-release-kinnevik-directly-owns-shares/
The transaction is still subject to approval by the German Federal Cartel Office.
Zalando (https://corporate.zalando.com) is Europe’s leading online retailer for shoes and fashion. Working with over 1,500 international 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 founded 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 expanded 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.