Zalando buys Highsnobiety
German online fashion and beauty store Zalando acquires majority stake in street fashion news and e-commerce site Highsnobiety, headquartered in Berlin with offices around the world. The amount of the deal was not disclosed.
Highsnobiety founder and CEO David Fischer will retain a minority stake and continue to run the business alongside President and COO Jurgen Hopfgartner.
“I am thrilled to be able to take advantage of Zalando’s unrivaled expertise in e-commerce platform scaling and take my lifelong passion to the next level,” Fisher said in a statement.
Highsnobiety will serve as a strategic and creative advisor to Zalando, offering "cultural relevance and insight" and helping the online platform develop inspiring new spaces and formats. In return, Zalando will provide retail know-how and operational capabilities to develop Highsnobiety's own e-commerce business.
So far, Highsnobiety has focused on turning readers into buyers. In May 2022, the site signed a joint venture agreement with Gebr Heinemann, operator of the Duty Free & Travel Value Shops chain of stores, to open permanent airport stores, according to Vogue Business. Three more global retail stores are planned to open this year.
Fisher has set a goal for retail to account for 2025% to 30% of Highsnobiety's customer service business by 40.
Founded in 2005, Highsnobiety launched e-commerce in May 2019. The online store features collaborations with luxury and streetwear brands, including Prada, as well as its own label, Highsnobiety, which launched last year.
German online fashion and beauty retailer Zalando acquires majority stake in street fashion news and e-commerce site Highsnobiety, headquartered in Berlin with offices around…
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