Zalando has become the latest company in the long list of internet opportunities where DST Global invests in. The Russians have acquired 4% of the German shoe and fashion retailers for an undisclosed amount. Zalando has also signed a second agreement yesterday: one that will stop them from selling items containing fur.
Major internet investor
Rubin Ritter, Zalando's managing director, was quoted as being “very pleased to have won DST as a new shareholder. With investments in Facebook, Zynga, Groupon, Twitter, 360buy and Alibaba, DST is one of the world's leading investment firms in the internet sector.” He told FashionUnited he was “looking forward to accelerating Zalando's growth in Europe even further.”
Their new Russian shareholders DST on the other hand praised Zalando's “professional management team, impressive growth record and great potential to capitalize on the fast growing European e-commerce market.” Alexander Tamas hopes they can be “long-term partners of Zalando on its path to becoming a European Internet leader”.
Meanwhile, the German retailer has signed an agreement to stop selling fur, after a Dutch organisation had asked them to stop selling the last articles containing fur. In signing the agreement, Zalando joins a long list of companies including Mexx, H&M and Tommy Hilfiger.
Since its foundation in 2008, Zalando has extended its scope both in geography and supply. The group is now active in 6 European countries and has a monthly production of almost one million pairs of shoes, resulting in a turnover of 100 million euro