fashionette AG (ISIN DE000A2QEFA1 / GSIN A2QEFA) (“fashionette”) today has entered into a share purchase agreement to acquire all of the shares of the holding companies Brandfield Holding B.V. and Fastylo Holding B.V., each headquarted in Groningen, the Netherlands, and each holding an operating subsidiary (together “Brandfield”). The sellers are the holding companies of the founders and the management of Brandfield.
Brandfield is a European online retailer of premium fashion accessories with a focus on the core region of the Netherlands and Belgium. Brandfield offers a wide range of premium fashion accessories such as jewellery, watches and leather goods with more than 8,000 SKUs (product units). In the financial year 2019/20, Brandfield generated profitable net revenues of EUR 26.7 million (proforma consolidated) with approximately 100 employees. For the financial year 2020/21 ending 30 June 2021, Brandfield expects net revenues of around EUR 40 million and a positive EBITDA* (proforma consolidated in each case).
The acquisition of Brandfield will enable fashionette to significantly increase its market share and expand geographically in Europe, in addition to accelerating the scaling of its data-driven online platform for premium and luxury fashion accessories. Brandfield’s founder and current management team will continue to play an active role in the company and further develop Brandfield’s business following the completion of the transaction.
Carlsquare acted as the exclusive financial advisor to fashionette.
