fashionette AG

  • WKN: A2QEFA
  • ISIN: DE000A2QEFA1
  • Land: Germany

Nachricht vom 29.04.2021 | 22:04

fashionette AG acquires Dutch online retailer Brandfield

fashionette AG / Key word(s): Mergers & Acquisitions
fashionette AG acquires Dutch online retailer Brandfield

29-Apr-2021 / 22:04 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

fashionette AG acquires Dutch online retailer Brandfield

Dusseldorf, 29 April 2021. 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 net purchase price is in the lower double-digit million Euro range. The closing of the transaction is subject to a condition precedent, which is expected to occur on 1 July 2021.

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.

* fashionette defines EBITDA as net revenue plus other operating income less cost of materials, personnel expenses and other operating expenses.

IMPORTANT NOTICE

Certain statements in this disclosure may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in fashionette's disclosures. You should not rely on these forward-looking statements as predictions of future events and fashionette undertakes no obligation to update or revise these statements. The actual results may differ materially and adversely from any forward-looking statements discussed in this disclosure due to several factors.

fashionette AG

Investor Relations
ir@fashionette.com
Tel.: +49 (0)211 17607828
Lierenfelder Straße 45 | 40231 Dusseldorf | Germany
corporate.fashionette.com

fashionette AG press contact

Susan Hoffmeister
ir@fashionette.com
Tel.: +49 (0)89 125 09 03 30


29-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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