Russian investment management firm DST Global has bought a minority equity stake in fast-growing European online fashion store Zalando, and will join current shareholders including Rocket Internet, Holtzbrinck Ventures, Tengelmann Ventures and Kinnevik.
The firm will buy a four per cent stake in the Berlin-based e-commerce company, which was founded three years ago and already offers fashion and lifestyle products to customers in Germany, France, UK, Italy, the Netherlands, Austria and Switzerland. Financial terms of the deal were not disclosed.
Alexander Tamas, a partner at DST Global, said, “Zalando has a professional management team, an impressive growth record and great potential to capitalise on the fast growing European e-commerce market. We look forward to being long-term partners of Zalando on its path to becoming a European internet leader.”
DST has previously invested in Facebook, Zynga, Groupon, Twitter, 360buy and Alibaba. In December last year the firm joined General Atlantic in a $155m financing round for Klarna, a Swedish online payments service that aims to make online shopping simpler and safer.
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