Ecommerce Alliance AG (ECA, ISIN DE000A12UK08) has sold 12 percent of their shares in the holding mybestbrands GmbH at a profit as part of the majority takeover of MYBESTBRANDS by SIGNA Retail. SIGNA Retail will in future hold 60 percent of the shares in MYBESTBRANDS, while other shares remain in the hands of MYBESTBRANDS management around the company founders Jörg Domesle and Moritz Seidel to ensure continued independent company leadership of MYBESTBRANDS. The relevant purchase contract was signed last Friday. It was agreed to keep the purchase price confidential.
“Since our go-live in 2009, MYBESTBRANDS has steadily developed into Germany’s largest online fashion mall for premium and luxury brands. The specific focus on fashion brands in the premium and luxury segment implemented in 2013 has generated a gross merchandise volume (GMV) of around EUR 100 million in 2016 and more than 2 million app downloads“, explains Daniel Wild, CEO of Ecommerce Alliance AG. “SIGNA Retail is the perfect partner for MYBESTBRANDS because of the company’s leading position in the trade of premium and luxury products in Germany and Europe. The close cooperation with KaDeWe Group promises excellent potential”, continues Wild.
MYBESTBRANDS is being taken over by the newly formed SIGNA Luxury Marketplace GmbH. It will drive further partnerships and acquisitions in the premium and luxury segment in line with the future model “Tomorrow’s Marketplace”. The company is therefore set to follow the strategy of SIGMA Retail Group, which entails developing all retail holdings into omnichannel-capable marketplaces.
