Kinnevik buys extra 10% of Zalando from existing investors

The selling parties will all retain stakes in the company. Following the transaction, Kinnevik will hold 35% of Zalanda, 26% directly and 9% indirectly through Rocket Internet.

Kinnevik first invested in the company in 2009. Its latest investment was made in April 2012 together with DST Global. Both investors increased their holdings in a deal valued at less than €100m.

Kinnevik financed the transaction with existing credit facilities.

Company
Zalando is a Berlin-based online retailer for apparel and shoes. It was founded by Robert Gentz and David Schneider in 2008. The company began it's expansion in 2009 in Austria, followed by the Netherlands and France in 2010. In 2011, the firm moved into the British and Swiss online markets.

In 2011, Zalando's revenues totalled €510m. Between January and June 2012, the company recorded sales of €471m. It also secured capital from DST, JP Morgan and Kinnevik.

People
Mia Brunell Livfors, CEO, led the transaction on behalf of Kinnevik. Rubin Ritter is managing director of Zalando.

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