×
2 782
Fashion Jobs
HEAD OFFICE
Buyer, Apple
Permanent · LONDON
HEAD OFFICE
Buyer – Nursery & Baby
Permanent · LONDON
HARRODS
Buyers Clerk - Furniture And Bed & Bath
Permanent · LONDON
HARRODS
Senior Buyers Clerk - Fine Watches & Jewellery, Homeware & Furniture
Permanent · LONDON
VF INTERNATIONAL
Credit Controller - Italian Speaking
Permanent · CALVERTON
VF INTERNATIONAL
Credit Controller
Permanent · CALVERTON
BOOHOO GROUP
Site Operations Manager
Permanent · BURNLEY
SHISEIDO
Shiseido Assistant Business Manager - Harrods (37.5 Hours)
Permanent · London
BOOHOO GROUP
Senior Site Operations Manager
Permanent · BURNLEY
HARRODS
Food Supply Coordinator
Permanent · LONDON
HEAD OFFICE
Social Marketing Manager
Permanent · LONDON
HEAD OFFICE
Service Operations Manager
Permanent · BRACKNELL
HEAD OFFICE
Social Marketing Performance Manager
Permanent · LONDON
DR. MARTENS
Logistics Finance Manager
Permanent · LONDON
MULBERRY
Junior Product Manager
Permanent · LONDON
MULBERRY
Warehouse Operative
Permanent · SHEPTON MALLET
HARRODS
Aftercare Consultant
Permanent · LONDON
SELFRIDGES
Lead Tech Business Analyst - Customer And Omnichannel
Permanent · LONDON
SELFRIDGES
Senior Tech Business Analyst - Customer And Omnichannel
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Selfridges, London - 22.5 Hours/Week - Part Time, Permanent
Permanent · Londres
BOOHOO GROUP
Warehouse Operative - Any 5 in 7, 06:00 - 14:00
Permanent · CRICK
BOOHOO GROUP
Warehouse Operative - Boohoo Group (Pretty Little Thing)
Permanent · SHEFFIELD
By
Reuters
Published
Aug 13, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Danish investor behind Bestseller takes stake in online retailer Zalando

By
Reuters
Published
Aug 13, 2013

BERLIN, Germany - Danish fashion magnate Anders Holch Povlsen has taken a 10 percent stake in Europe's biggest online fashion retailer Zalando from early stage investors as bricks-and-mortar retailers look to take a slice of booming e-commerce.

Anders Holch Povlsen | Source: AFP

High street fashion retailers are increasingly looking to expand into e-commerce as more shoppers buy clothes from home, with Hennes & Mauritz launching online sales in the United States earlier this month.

Zalando said in a statement that Povlsen, who owns the Bestseller group known for high street stores like Jack & Jones and Vero Moda, had bought shares from early investors including European Founders Found (EFF), Holtzbrinck and Tengelmann.

A Zalando spokesman declined to say how much Povlsen, who Forbes estimated is worth $2.5 billion (£1.62 billion), paid for the stake.

"Anders Holch Povlsen will be a strong and long-term-oriented shareholder and together we want to design the future of fashion e-commerce," Rubin Ritter, Zalando managing director, said in the statement.

Speculation has mounted that Zalando could soon look to float on the stock market although the founders of the Berlin-based firm have said they first want to focus on achieving profitability in core markets.

Zalando has been extending its lead over British rival ASOS as Europe's largest online fashion site, expanding from shoes to clothes and now selling over 1,000 brands. It doubled 2012 net sales to 1.2 billion euros.

In a separate statement, Rocket Internet, the venture capital company behind Zalando said it had transferred its stake in the company to Swedish investment firm Kinnevik, EFF and Access Industries. Kinnevik and EFF had previously held part or all of their stakes indirectly via Rocket Internet.

Kinnevik now owns a 37 percent stake, EFF has 18 percent, while retail group Tengelmann trimmed its stake to 6 percent from 7 percent and German venture capital firm Holtzbrinck to 8 percent from 11 percent as they sold shares to Povlsen.

Kinnevik, which has been raising its exposure to e-commerce, last year bought an additional 10 percent of Zalando at a price that valued the total company at 2.8 billion euros.

Founded in 2008, Zalando has mirrored Amazon's strategy of spending heavily on advertising to boost brand awareness, and it also offers a free, but costly, return policy in all markets.

© Thomson Reuters 2022 All rights reserved.