25th October 2016
Permira, the global private equity firm, announced today that a company backed by the Permira funds has entered into a definitive agreement to acquire Schustermann & Borenstein GmbH (“S&B”), the leading exclusive omnichannel retail fashion community for private membersin the DACH region for an undisclosed sum from Ardian, the independent private investment company. The two founding families Schustermann and Borenstein will continue to be invested in the company.
Founded in 1924 and headquartered in Munich, S&B sells more than 3,000 designer brands at attractive prices through its website BestSecret.com as well as three stores in Munich and Vienna. Its exclusive membership is based on invitation only which creates both high-desirability and strong customer engagement, driving double-digit annual growth over the past years. The company has also established itself as a trusted preferred partner for many suppliers with a truly differentiated market position driven by its strong value proposition for both customers and suppliers. Over the past 10 years, S&B has become the leading premium fashion e-commerce platform in the DACH region while also expanding in the UK, Sweden and France.
Click below to download the full release.