10 Sep 2024
Carlsquare advised kirondo on the sale to PERCENTIL
10 Mar 2015
Madrid/ Hamburg/ Munich, 10 March 2015 – PERCENTIL.com announces the acquisition of kirondo GmbH which operates the online second hand kids fashion store kirondo.de
The purchase of kirondo.de, number one German player in its sector, positions PERCENTIL as the leading player in three of the largest markets in Europe in online second hand fashion commerce: Spain, France and Germany.
PERCENTIL thereby adds a second processing and purchasing center in Berlin intended to be the focus for future growth. With the 30,000 items kirondo currently has in stock PERCENTIL becomes the largest second hand online clothing shop in Europe, totaling 120,000 almost as new items. Both centers will operate independently, which will allow them to maximize rotation as they will move items from one to the other as needed.
Thanks to these two logistics centers in Europe, PERCENTIL expects to sell more than 800,000 items this year. This will make the company the largest second hand online retailer on the continent, consolidating three key markets as it prepares to expand the business to other regions by the end of 2015.
According to Luis Ongil, co-founder and CEO of PERCENTIL.com, “with this operation we give huge push to our business as we more than double our processing/selling capacities acquiring the number one player in the most important European market, Germany. This ‘two-hub strategy’ is key to offer the best shopping experience to our customers, and brings us one step closer to our dream of building the largest almost as new fashion re-seller in Europe.”
Christopher Deckert, kirondo co-founder and CEO says “through this deal, kirondo will be able to push its presence beyond Germany and Austria into other Central European markets. In addition, we are excited to build on PERCENTIL’s experience in the women’s segment allowing us to quickly step into this field”.
Additionally, Hendrik Schlereth, co-founder and COO of kirondo, comments: “Initial tests of stock exchange between the two hubs underline the tremendous opportunities for margin increase and stock rotation. For example, we are now getting 5,000 winter items from PERCENTIL’s hub to serve our customers during the remaining cold days while Spanish and French customers start enjoying spring-like weather. ”
Carlsquare exclusively advised kirondo and their shareholders on the sale to PERCENTIL.
About kirondo
kirondo, led by Christopher Deckert and Hendrik Schlereth, is the biggest online second hand shop for kids’ clothes in the German-speaking area. With over 200,000 purchased and sold items kirondo has served more than 25,000 families in solving a prime issue: Buying and selling kids’ clothes in a comfortable way – and always making a great deal. Together with their 20+ staff, the team is absolutely thrilled that the parents of today have a real, practical option which along the way preserves the future of our kids’ planet. For further information about kirondo, please visit their homepage www.kirondo.de.
About PERCENTIL
PERCENTIL was founded in 2012 by Luis Ongil, Lourdes Ferrer and Daniel Bezares, a founding team with background in logistics, marketing and fashion. PERCENTIL’s vision is to become the largest consignment fashion retailer in Europe; currently, the company operates in Spain, France and now Germany. PERCENTIL has a team of 34 professionals and markets 80K garments in its online store, selling more than 40k a month. Shopping at PERCENTIL, families not only saved to date €12M buying clothing but also more than 20k sellers have earned more than €700K selling almost as new clothes. The company has the backing of Active Ventures Partners, Cabiedes [&] Partners and international Business Angels. For further information about PERCENTIL, please visit their homepage http://percentil.com.
About Carlsquare
Carlsquare and the international M[&]A network Globalscope offer integrated cross-border M[&]A consulting services for medium-sized transactions. Carlsquare – a partner led corporate finance firm – advises businesses and shareholders to realise their strategic objectives ensuring the highest level of quality. Carlsquare is managed by three partners and is based in Hamburg and Munich with 18 employees. Globalscope has 44 members in 37 countries with more than 450 professionals worldwide. For further information about Carlsquare, please visit www.carlsquare.com.
Deal Team / Contact:
Carlsquare GmbH
Valentinskamp 24
20354 Hamburg
Similar News
