Clothing and footwear etailer Zalando has secured investment funding from JP Morgan Asset Management and Quadrant Capital Advisors to aid its growth in Europe.
The German-based etailer, which launched in the UK just over a year ago, confirmed that it had received the undisclosed investment yesterday (August 16) after the completion of JP Morgan Asset Management and Quadrant Capital Advisors.
According to Zalando the investment will be used to “further support the growth of Europe’s leading online fashion retailer.”
“We’re pleased that we were able to secure such internationally established investors as JP Morgan Asset Management and Quadrant Capital Advisors,” said Rubin Ritter managing director at Zalando.
“2012 has been a very successful year for us so far. Together with our shareholders we want to continue along this path. We will continue to invest in growth as well as building a solid company.”
Zalando stocks a mix of men’s, women’s and kids clothing and footwear, selling a range of high street and designer brands including Tommy Hilfiger, Miss Sixty, Buffalo, Blowfish and Diesel in its home market Germany, as well as Austria, Switzerland, France, Italy, the Netherlands and the UK. It also stocks accessories, beauty and sportswear.
The Berlin-based company has also invested €100m to open a warehouse in Erfurt at the beginning of 2013, with capacity for over eight million products.