Zalando has announced that Anders Holch Povlsen, owner of Bestseller, joins the company's shareholder group, acquiring 10 percent of the shares in Zalando.

The parties agreed that Holch Povlsen will acquire shares from several early-stage shareholders, such as European Founders Found (EFF), Holtzbrinck and Tengelmann. All of the selling shareholders remain invested in Zalando.

”Bestseller and Zalando have been working together very successfully for several years. Anders Holch Povlsen has been following Zalando’s development very closely and he knows our strengths,” explains David Schneider, co-founder and managing director of Zalando. “To partner up with such an experienced fashion entrepreneur is amazing for us.”

Founded 2008 Zalando reached more than 1.15 billion EUR in revenue and break-even in its core region DACH (Germany, Austria and Switzerland) in 2012. For Q1 2013, net revenues were 372 million EUR, a 74% increase compared to last year.

Now, the shares of Zalando will be held as follows:

  • Investment AB Kinnevik: 37%

  • European Founders Fund: 18%

  • Anders Holch Povlsen: 10%

  • DST Global: 9%

  • Holtzbrinck Ventures: 8%

  • Tengelmann Ventures: 6%

  • Others: 12%

The transaction is still subject to approval by the German Federal Cartel Office.