Jack & Jones Parent Company To Buy Two Largest European Electricity Supplier Equity As Major Shareholder

Zalando GmbH, Europe's largest independent supplier, said in a statement that it has 28% stake in the UK electricity supplier, the famous brand Vero Moda, Only and Jack & Jones Anders Holch Povlsen, the parent of Jack Jones and other brands and Bestseller A/S of Danish Fashion Retail Group, will acquire 10% of its shares from Zalando GmbH's early shareholders European Founders Fund (EFF), Founders and European, and gradually shift from entity zero sale to e-commerce market. Neither side disclosed the amount of the transaction, but according to earlier reports by Bloomberg, the Swedish investment company Investment AB Kinnevik spent 100 million euros to increase its 3.5% Zalando GmbH stake at the end of June, making Zalando market capitalization of about 2 billion 900 million euros. It is estimated that the purchase price of Anders Holch Povlsen is about 290 million euros.

Prior to that, Bestseller A/S's Vero Moda, Only and Jack & Jones Jack Jones were already cooperative brands of Zalando GmbH. Zalando GmbH co-founder and director of operations David Schneider said, "Bestseller and Zalando have been very successful in the past few years. Anders Holch Povlsen has been keeping a close watch. Zalando We are familiar with our development.

Rubin Ritter, director of operations of Zalando GmbH, said in a statement that the transaction marks an important step forward in the strategic development of shareholder structure. Anders Holch Povlsen will become a strong and long-term shareholder. We will work together to design the future for fashion e-commerce. "

After the transaction, the shareholder structure of Zalando GmbH is as follows: the Swedish investment company Investment AB Kinnevik (KINVB.ST) shares 37%, Zalaodo GmbH initial investors Samwer three brothers owned venture capital company European Founders Founders shares accounted for 18%, Investment shares accounted for 10%, Russian fortune merchant's technology investment company's shares accounted for 9%, German venture capital companies accounted for 8% (previously 11%), German retail group shares accounted for 6% (formerly 7%), and other shareholders (including Jones & amp; Jones (Morgan)) and J.P.) accounted for the remaining 12% shares.

Zalando GmbH achieved a net sales of 1 billion 150 million euros in 2012 and doubled on 2011, making it the largest independent electricity supplier in Europe, more than ASOS PLC last year, 552 million 900 thousand pounds, and the group's EBIT pre tax profit margin of 2012 was about 8% of sales, making a break even in three core markets of Germany, Austria and Switzerland. Zalando GmbH entered 7 countries in Sweden, Belgium, Denmark, Finland, Spain, Poland and Norway in 2012 and expanded their business to 14 European countries.

In mid July, Zalando GmbH released its first quarter results in fiscal year 2013, showing sales surged 74% to 372 million euros, up 214 million euros in the same period last year.

In early July, Bloomberg quoted sources as saying that investment banks had approached Zalando GmbH, hoping to facilitate the listing of the latter as soon as possible. But at the time, Karl-Erivan Haub, CEO of Tengelmann Group, holding 7% stake in Zalando GmbH, told Reuters that Zalando GmbH had no IPO plan and no need for capital, and said Tengelmann Group would continue to hold a stake in the company.

Founded in 2008, Zalando GmbH was founded. Global electricity supplier The incubator Rocket Internet GmbH's German Samwer three brothers invested the founder of David Schneider and Robert Gentz. The industry has always believed that Zalando has the ability to go public, but the company spokesman Steffen Heinzelmann said earlier that the company did not have a listing plan. Zalando co chief executive officer Rubin Ritter said in February that the company would not sell, and shareholders were very satisfied with the current investment.

Zalando GmbH is not the first "electric shock" object of Anders Holch Povlsen. Anders Holch Povlsen began to invest in ASOS PLC, the second largest European electricity supplier through Bestseller A/S's investment organization Aktieselskabet AF 5.5.2010 since 2010. Its share share increased from the initial 12.1% to the current 27.5%, becoming the largest shareholder of ASOS ASOS.