AXA buys majority stake in retail fashion firm S&B

The Schustermann und Borenstein families will retain a significant financial stake in the company and will also continue to be in charge of business operations in the future.

In addition to two fashion stores in Munich which are accessible to members only, Schustermann & Borenstein owns the exclusive online shopping community BestSecret.com. The family shareholders and AXA Private Equity are planning to continue the company's successful business growth on a joint basis.

Daniel Schustermann and Daniel Borenstein, the managing partner and managing director of Schustermann & Borenstein respectively, comment as follows: "We are delighted to have found in AXA Private Equity a strong and dependable partner for the company, with whom we can implement our growth plans and further our business activities together with our personnel."

Wolfgang Pietzsch, Managing Director of AXA Private Equity comments: "We are very pleased that the families who own the traditional Munich-based company Schustermann & Borenstein have decided to partner with us". "AXA Private Equity will support Schustermann & Borenstein as long-term investor and strategic partner and will help company management to successfully implement its strategy."

The parties concerned have agreed not to reveal details of the new holding.

AXA Private Equity