Zalando acquires majority stake in Highsnobiety
E-tail giant Zalando said on Monday that it has acquired a majority stake in Highsnobiety for an undisclosed sum. The two companies will now “join forces to lead the way in engaging and inspiring customers”.
The aim is that they “leverage each other's complementary strengths by bringing together Highsnobiety’s cultural relevance
and insight, fashion authority and storytelling expertise with Zalando’s fashion network, e-commerce know-how and operational capabilities”.
Highsnobiety will continue to operate as a standalone brand, with its two MDs David Fischer and Jürgen Hopfgartner staying at the helm, and founder Fischer keeping a minority stake in the business.
Alongside its ongoing activities, it will also “act as a strategic and creative consultant, helping Zalando develop new inspiration-focused spaces and formats on its platform”.
It’s the kind of the acquisition that might not have happened just 20 years ago, but in today’s inter-connected world in which experiences and content are key, it’s one that makes complete commercial sense.
The German e-tailer said Highsnobiety’s “unique capabilities will play into Zalando’s ambitions to weave inspirational experiences into the customer journey and create an exciting and engaging online environment for both consumers and brands. In turn, joining the group allows Highsnobiety to leverage Zalando’s expertise and resources to fuel its own e-commerce capabilities”.
Highsnobiety began as a Berlin-based blog founded 17 years ago by Fischer and celebrating the point at which streetwear met luxury. Today, as well as its publishing activities, it’s a creative consultancy and a curated commerce platform.
Its particular strength in the streetwear space will “accelerate Zalando’s ambition to be a top destination for streetwear, new luxury and fashion inspiration, especially for the younger, fashion-forward consumers”, the e-tailer said.
Fischer said: “Highsnobiety has mastered the art of turning stories into products and products into stories. I am very excited to bring our capabilities to Zalando's commitment towards fashion inspiration and together reimagine the future of content and commerce." He also referenced the chance to "tap into Zalando’s unrivalled expertise in scaling e-commerce platforms".
Zalando founder and co-CEO David Schneider added that partnering with Highsnobiety “will allow us to execute much faster on our ambition to offer the most relevant and engaging — as well as convenient — shopping experience to our customers”.
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