Owner Bestseller invests in Zalando

Owner Bestseller invests in Zalando

Owner of Bestseller Anders Holch Povlsen has acquired an interest of 10% in internet retailer Zalando. Bestseller is the company that owns brands such as Jack & Jones, Vero Moda, Only and Selected.

Result of many years of collaboration

Anders Holch Povlsen (40), who got his own spot on the Forbes list of fashion billionaires, is buying the shares from a group of investors, including the European Founders Fund (EFF), Holtzbrinck and Tengelmann. Povlsen's own capital is estimated at two billion euro by Forbes, putting him at 589 on the famous chart for rich people.

 

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”, says David Schneider, co-founder and managing director of Zalando. Povlsen is now the third largest shareholder of Zalando, following AB Kinnevik (37%) and European Founders fund (18%).

 

Zalando, founded in 2008, had sales of 1.15 billion euro in 2012 and it says it runs break-even in its home markets (Germany, Austria and Switzerland) since this year. In the first quarter the e-tailer had a sales growth of 74% to 372 million euro and it has grown into one of the most visited fashion sites in the world, with almost fifteen million customers.

 

Questions or comments? Please feel free to contact the editors


Carrefour buys stake in Showroomprivé

12/01/2018

Carrefour has obtained a 17 % minority stake in flash sale seller Showroomprivé with the intent of increasing its digital and non-food reach. Former shareholder Conforama did suffer a loss.

Will free home delivery disappear?

15/12/2017

A growing number of online orders also brings additional pressure on the logistical industry. Free home delivery can no longer be maintained according to research company ECC Köln. More flexible options should be installed.

Amazon brings its private labels to Europe

14/12/2017

After it introduced Amazon Prime to an increased number of European markets, Amazon is now bringing in its own FMCG private labels. Over the past few weeks, the online department store launched several private label products in Europe and it has plans for even more. 

Amazon Echo is now available in the Benelux

11/12/2017

Amazon announced it will ship its smart speaker Amazon Echo to another 28 countries, including Belgium and the Netherlands. Its own music streaming service will also get a local launch.

Luxury manufacturers can block retailers from selling on Amazon

07/12/2017

Luxury product manufactures can block retailers from selling their merchandise on online marketplaces like Amazon. The European Court of Justice has ruled on the matter after cosmetics manufacturer Coty filed a complaint.

Surge in mobile sales during Thanksgiving weekend

29/11/2017

During Thanksgiving weekend in the United States, which contains Black Friday and Cyber Monday, there was a big surge in mobile sales. Those two days saw a total sales figure of almost twelve billion dollar (just shy of ten billion euro).

Back to top