Fashionette is about to go public. The initial listing should take place in the fourth quarter in the Scale segment of the Frankfurt Stock Exchange. An exact date has not yet been set. The IPO addresses both private and institutional investors. A capital increase is planned. The main shareholder GENUI, a private investment firm, also wants to sell shares.
The listing candidate operates a data-driven online platform for premium and luxury fashion accessories. One focus is on handbags. The customers come mainly from Germany, Austria and Switzerland. The portfolio includes 11,000 products from more than 150 brands. The company was founded in 2008.
Fashionette currently operates websites in eight countries. 90 percent of sales come from the DACH region. In 2019, sales were 73.2 million euros and EBITDA came to 6.8 million euros. After three quarters of 2020, sales should be EUR 62.0 million. That is an increase of 24 percent compared to the previous year. Around 140 people work for fashionette.
The Düsseldorf-based company wants to continue growing with the fresh capital. They want to strengthen marketing and expand the product range. Geographic expansion is also planned.
Daniel Raab, CEO of fashionette, explains the background: “fashionette has set itself the goal of becoming the leading European online platform for premium and luxury fashion accessories in this highly fragmented market. We are, in the truest sense of the word, a data-driven company that uses technology and data as the basis for all of its processes. ”
He continues: “The focus of our strategy is to continue to focus on our profitable growth with above-market growth rates. The IPO is the next logical step for us to make our brand even better known and to expand our business model to other European countries. “
The IPO is supported by Hauck & Aufhäuser.