Home / Knowledge / News / Apparel/Garments / Privalia buys Dress for Less; enters German market
Privalia buys Dress for Less; enters German market
Mar '11
Privalia Venta Directa, S.L., the leading private online sales club with market leading positions in Spain, Italy, Brazil and Mexico, is pleased to announce it has agreed to acquire 100% of Dress for Less ("DfL"), one of Germany's leading online clothing and apparel retailers from Palamon Capital Partners, a pan-European private equity firm.

Dress for Less was founded in 1999 and operates a distribution platform in the open site, discount and full price segments. It has more than 500,000 active customers and a total customer base of 1 million in more than 50 countries worldwide.

The acquisition will be funded through a combination of EUR88 million of new equity provided by General Atlantic LLC ("General Atlantic"), a leading global growth equity firm, Highland Capital Partners LLC ("Highland Capital Partners"), Index Ventures LLP ("Index Ventures") and Insight Venture Partners ("Insight Ventures Partners"), a debt facility and shares. As a result, the founders of DfL and managing partners Mirco Schultis and Holger Hengstler will become significant shareholders in Privalia.

This acquisition marks Privalia's first entry to the German market, and follows the Company completing a EUR70 million ($95 million) financing in October 2010 which was one of the largest capital raises in the private online sales sector globally. The previous financing was conducted to enable the Company to expand its leadership into new markets organically and through acquisitions. It was supported through equity investment by General Atlantic, Index Ventures and Highland Capital Partners.

Privalia was founded in Barcelona, Spain in 2006 by Lucas Carne and Jose-Manuel Villanueva and is the market leader in each country in which it currently operates: Spain, Brazil, Italy and Mexico. Privalia announced in February 2011 sales growth during 2010 of 140.6% to EUR168.4m. During 2010, Privalia started its Mexico operation, sold 8 million items and at the end of 2010 had over 6 million members. Privalia forecasts global triple-digit growth and combined sales in the region of EUR400 million in 2011.
Privalia was advised on the transaction by Jefferies International Limited, the global securities and investment banking firm and legal advisers Garrigues and Ashurst.

Commenting on the acquisition, Lucas Carne and Jose-Manuel Villanueva, Co-Founders of Privalia said:

"We are pleased to have agreed to acquire Dress for Less, a leading online retailer in Germany, the biggest and fastest growing economy in the EU. There are significant strategic and operational synergies in this partnership. This acquisition brings a significant geographic expansion, a leadership position in Germany and expands the Privalia business model, providing Privalia with a large and effective channel for the private sales return stock.

"Dress for Less is a quality business and we are delighted that Mirco Schultis and Holger Hengstler and their teamare going to stay with the enlarged Group to continue to grow the business.

Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search