German Shopping Club Brands4Friends Gets €10 Million Funding
German online fashion shopping club Brands4Friends has received a €10 million third-round investment, designed for international expansion, from a trio of VC houses. It’s a pretty big investment, but the site claims to have drawn 1.2 million members since launching in 2007. The round is led by Partech International along with existing backers Mangrove Capital and Germany’s own Holtzbrinck Ventures. MD Constantin Bisanz said it will help the site offer cheaper goods. Brands4Friends offers high-end clothes at reduced prices and was founded in Berlin by StudiVZ co-founder Lukasz Gadowski’s Team Europe fund, Kolja Hebenstreit, angel extraordinaire Oliver Jung, CEO Christian Heitmeyer along with Bisanz. Partech said the shopping club model had strong potential for internationalisation, while the site cites a recent study that found fashion is the fastest-growing segment in German e-commerce, growing 18 percent year-on-year to €4.6 billion. Release.
Posted In: Money, M&A & Venture Capital, Venture Capital, Countries, Europe, Germany, brands4friends, holtzbrinck ventures, mangrove capital partners, partech international