German brothers Samwer have sold almost half of the shares their investment firm, Global Founders, still holds in Zalando. The brothers’ share in the German online fashion retailers is now less than 5 %.
Third largest shareholder
Zalando announced the news in a press release on its shareholders’ voting rights. Previously, Global Founders had a 8.77 % stake in the company, but that has now dropped to 4.99 %. The Samwer brothers also use Rocket Internet, a company that helps create worldwide start-ups. Zalando is by far their most successful venture up until this point.
Despite their role as Zalando founders, their stake has become ever smaller over the years. It dipped below ten percent in the fall of 2015 and right now, the three brothers are only the third largest shareholder. Swedish Kinnevik is by far the company’s largest shareholder, with 31.7 % of shares.