Bestseller invests in About You
Heartland, the holding company behind Bestseller, is to invest in German online fashion retailer About You.
Bestseller’s retail brands include Vero Moda, Jack Jones, Selected and Vila amongst others.
The company has agreed to buy a double-digit percentage stake in the Hamburg-based company and plans to double its current workforce of 450 over the next three years.
Lise Kaae, chief executive of Heartland, said: “We have followed About You closely over the past few years, and we see a company with sound leadership and solid potential. The current management team has done a great job, and we are confident that they can develop the company even further.”
Stay updated with the latest retail news for free by subscribing to the Retail Bulletin mailing list.
Founded in 2013 by German trio Tarek Müller, Sebastian Betz and Hannes Wiese, About You has 1.5 million active customers and offers over 800 brands.
Müller said: “We are delighted that Heartland has come on board and appreciate the confidence they have shown in us. This investment gives us every opportunity to build our customer base even faster, gain greater market share and enter new markets rapidly.”
The investment is subject to formal approval by the respective authorities.
Email this article to a friend
You need to be logged in to use this feature.
Please log in here