Fashionette acquires Brandfield
Fashionette, an online platform for luxury fashion accessories, has acquired Dutch jewelry store Brandfield. With this acquisition, the German company Fashionette wants to accelerate its international profitable growth.
The exact amount of money Fashionette has paid to acquire all of the shares of the holding companies Brandfield Holding B.V. and Fastylo Holding B.V. is unknown, but it’s in the lower double-digit million euro range. The closing of the transaction is expected to occur on the first of July.
Advancing the announced expansion
“With the acquisition of Brandfield, we are significantly advancing the expansion announced at the IPO and accelerate our dynamic and profitable growth”, Fashionette’s CEO Daniel Raab says. The German company has been listed in the Scale segment of the Frankfurt Stock Exchange since October 2020.
“The acquisition of Brandfield not only increases our footprint in Europe, but also contributes positively to the scaling of our data-driven online platform for premium and luxury fashion accessories. Furthermore, there is significant synergy potential that we will leverage together with the existing management and the entire Brandfield team”, he adds.
The acquisition increases our footprint in Europe.
Brandfield: active in 11 European countries
Brandfield is an online retailer from the Netherlands that sells premium fashion accessories like watches, jewelry, and leather goods in eleven countries across Europe. The company has a net revenue share of 75 percent in the Netherlands and Belgium. About 40 percent of its sales are generated through Brandfield’s own brands.
Last year, the Dutch company generated profitable net revenues of 26.7 million euros with about 100 employees. This year, it expects net revenues of around 40 million euros. It also expects to generate more than 450 thousand orders with an average order value of over 80 euros this year.