Through a capital increase, the fund secured around 2 percent of the shares in Zalando. Further capital increases of up to 2 percent of the shares in Zalando may follow as part of this financing round, led by OTPP.
Managing director Rubin Ritter comments: “We are very happy to welcome OTPP on board as a very strong long-term investor. We all share a very positive common vision of the online fashion business and want to further strengthen our position as the market leader in European fashion ecommerce. To continue to build this position and our growth, it is a significant strategic advantage to be well equipped with capital.”
In August, Zalando announced Anders Holch Povlsen, the owner of BESTSELLER, as a new investor, acquiring 10 percent of the shares in Zalando, thereby becoming the company’s third largest investor following Investment AB Kinnevik with 36.5 percent and European Founders Fund with 17 percent.
The German Federal Cartel Office has now cleared this transaction. Anders Holch Povlsen also participated in today’s capital increase pro-rata, keeping his share in Zalando constant at 10 percent.
Zalando is Europe’s leading online retailer for shoes and fashion. Its extensive selection for women, men and children ranges from popular high street brands to much sought-after designer labels from over 1,500 different international brands. Exclusive accessories, beauty essentials and sportswear make up Zalando’s wide range of products.
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