BERLIN, August 16, 2012 /PRNewswire/ --
Zalando successfully completed talks with J.P. Morgan Asset Management and Quadrant Capital Advisors, Inc. concerning an investment in the company to further support the future growth of Europe's leading online fashion retailer.
"We're pleased that we were able to secure such internationally established investors as J.P. Morgan Asset Management and Quadrant Capital Advisors. 2012 has been a very successful year for us so far. Together with our shareholders we want to continue along this path," stated Zalando Managing Director Rubin Ritter. "We will continue to invest in growth as well as building a solid company."
"We are excited to partner with Zalando," said Robert Cousin, Managing Director, J.P. Morgan Asset Management. "The company has quickly established itself as a leading online fashion retailer in Europe. We are impressed with Zalando's large, growing, and loyal customer base as well as the breadth of products offered on the company's eCommerce platform. Zalando's world-class fulfillment resources and dedication to superior customer service should enable the company to expand upon its leading market position."
"With innovation, operational excellence and a commitment to high customer satisfaction, Zalando has built a strong brand in a remarkably short period of time," said Christopher Evison, Chief Investment Officer, Quadrant Capital Advisors.
As new Zalando investors, J.P. Morgan Asset Management and Quadrant Capital Advisors will be joining the likes of Rocket Internet, Holtzbrinck Ventures, Tengelmann Ventures, Investment AB Kinnevik and DST Global. The Berlin-based eCommerce company was founded in 2008 and has been growing rapidly ever since. In 2011, Zalando's net turnover reached 510 million euros. So far, the company has created over 1,000 jobs in Berlin and the Brandenburg area. In addition, Zalando is currently building a state of the art logistics centre in Erfurt to strengthen their European infrastructure. The online shop is currently live in twelve European markets, with Poland and Norway following soon.
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SOURCE Zalando GmbH