German fashion etailer Zalando has stepped in to secure the future of Berlin trade show Bread & Butter. The etailer has signed a letter of intent to acquire the Bread & Butter business, which hosts trades shows twice a year.
The deal does not affect Bread & Butter’s retail business.
B&B filed for insolvency in December last year, although the next edition is still due to take place as planned from July 7-9 at Tempelhof airport.
Now, with the help of Zalando, the insolvency proceedings will be brought to an end by October 1. Zalando’s level of investment is not known.
The partners are currently working a new concept for 2016, which will be announced later this year.
B&B said in a statement: “The Bread & Butter Berlin team and concept and Zalando are a very good match, and together they want to further develop Berlin as a fashion location.”
Insolvency administrator Christian Graf Brockdorff and BBL Bernsau Brockdorff & Partner said Zalando’s investment confirms the course taken for the trade show.
“We were always convinced of the appeal of the B&B event and trademark,” said the firm. “This is why we have supported the continuation. With the new investor on board, the future of it all is now secure and B&B can be led out of insolvency this year.”
“Bread & Butter is a great event and we see this as a great chance to use it as a further step to connect people in fashion, as well as establishing Zalando as a fashion platform,” said a Zalando spokeswoman. “The July event will continue as normal, as a B2B event, and we are considering ways to have consumers involved next year. It will still be called Bread & Butter and Karl-Heinz and the rest of the Bread & Butter team will continue to organise the event.
“We see that consumers are more involved in fashion development now, such as with some of the festivals in the US so we are looking at ways to incorporate this into the event in future.”
Last month, B&B announced the addition of a kidswear exhibition for the spring 16 edition in July.
Cookies international kidswear and design show, formally known as Children’s Fashion Cologne (CFC), is renting space from B&B will run in conjunction with the main trade show, taking over 53,800 sq ft at the former Templehof airport building.
It will house around 180 kids’ clothing and footwear, maternitywear, accessories and lifestyle brands.
Zalando acquired a minority stake in UK tech start-up Anatwine last month for a seven-figure sum.