Online footwear and fashion retailer Zalando has secured backing from the investment vehicle Ontario Teachers’ Pension Plan (OTPP).
The OTPP fund secured 2% of the shares in Zalando, with the opportunity to increase shares by an additional 2% further down the line.
The additional capital will enable further growth in the etailer’s 14 existing markets.
Rubin Ritter, managing director at Zalando said: “We all share a very positive common vision of the online fashion business and want to further strengthen our position as the market leader in European fashion ecommerce. To continue to build this position and our growth, it is a significant strategic advantage to be well equipped with capital.”