Secondhand style market Vinted needs to amass competitor Rebelle. The corporate provided 30.2 million euros for the acquisition. The deal obtained a optimistic response from fee members and shareholders of Rebelle.
Vinted is an internet platform to purchase and promote pre-owned clothes, which was based in Lithuania. Rebelle can be a secondhand style market from Germany, providing largely luxurious manufacturers. Vinted has been increasing its enterprise lately, launching a logistics arm and on-line delivery platform. Initially of this yr, Rebelle went public, valued at practically 60 million euros.
Over 90% of shares
Vinted launched the information in a press launch. For the takeover, Vinted is obtainable 1.35 euros per share. With 22.4 million shares of Rebelle, this comes all the way down to a complete of 30.2 million euros.
Vinted provided 30.2 million euros with 1.35 euros per share.
The corporate says it needs to personal over 90 p.c of Rebelle’s shares as a part of the deal. An appointed committee of Rebelle responded positively to the provide, in keeping with Vinted, in addition to shareholders that collectively characterize 65 p.c of shares.
‘More and more aggressive panorama’
In a separate press assertion, Rebelle’s committee says ‘it will be doable to understand its long run technique on a stand-alone foundation’. Nonetheless, this may require consolidation, mergers and acquisitions in an ‘more and more extra aggressive enterprise panorama for on-line second hand style marketplaces’.
“The committee recommends Rebelle to just accept the provide.”
The committee writes: “(…) particularly in relation to the Affords fast advantages of a money consideration within the brief time period, the Unbiased Committee unanimously recommends the shareholders of Rebelle to just accept the Supply.”
Rebelle to stay separate platform
With a doable takeover, Vinted is planning a mix of each organizations. This implies Rebelle will stay a separate platform with present administration and workers staying on. The precise plans will kind as soon as the deal is accepted, although. The proposition expires on the nineteenth of August.
“Combining Rebelle’s experience and Vinted’s attain.”
“As an trade peer, we’ve adopted Rebelle for a few years and are impressed with their providing and what they’ve achieved within the luxurious phase,” says CEO Thomas Plantenga of Vinted. “By combining Rebelle’s experience on this phase with Vinted’s geographical attain and huge member base, we see nice potential to create a strengthened worth proposition for customers, and finally help elevated uptake of second-hand.”
Vinted presently has over 65 million members and operates in 16 markets in Europe and North America.