At a time when editorial control is a key asset for brands and retailers, Zalando has just validated a strategic deal. The German online fashion retail giant has announced that it has acquired a majority stake in brand consultancy and streetwear media agency Highsnobiety.
Founded in Berlin in 2005 by David Fischer, Highsnobiety has been able to analyze the convergence of streetwear and luxury trends since its inception. However, the company had experienced some difficulties in recent years due to the Covid-19 crisis and two years ago saw the entry of financial partners in its capital, notably the Mirabaud Lifestyle Impact & Innovation fund, managed by David Wertheimer.
The founder, who retains a minority stake, and Juergen Hopfgartner will retain their roles as CEOs.
«Highsnobiety turns stories into products and products into stories,» he said.
«I am thrilled to join forces with Zalando’s commitment to inspiring fashion, and reinventing the future of content and commerce together. I am also delighted to benefit from Zalando’s unrivaled expertise in developing e-commerce platforms, and to take this professional project that I have been passionate about since the beginning to the next level,» he added.
The two German companies explain that they want to strengthen their respective assets. «Highsnobiety’s unique capabilities will contribute to Zalando’s ambitions to integrate inspiring experiences into the customer journey, and to create an exciting and engaging online environment for customers and brands,» detailed the statement announcing the transaction, the amount of which has not been disclosed.
«By joining Zalando, Highsnobiety will be able to leverage Zalando’s expertise and resources to strengthen its own e-commerce capabilities,» it added.
For Zalando, the vision is clearly to be able to better engage a young clientele passionate about streetwear codes.
«This partnership with Highsnobiety will allow us to much more quickly realize our ambition to offer our customers a more relevant, engaging and convenient shopping experience. I look forward to seeing our shared vision become reality and to shaping the future of fashion content in e-commerce together,» said David Schneider, one of Zalando’s co-founders and co-CEO.
The platform, founded in 2008 in Berlin, claims to have 49 million active customers. In 2021, its turnover was 10.4 billion euros.