April 1, 2016
Consumer, Retail, E-commerce and Leisure, Digital Media and Media
GCA Altium advises Tamedia on the sale of FashionFriends to Schustermann & Borenstein
GCA Altium has advised Tamedia AG (SIX: TAMN) on the sale of FashionFriends, a leading Swiss online fashion outlet, to Schustermann & Borenstein, a leading premium fashion retailer. This marks GCA Altium’s 11th transaction in the Digital, Media and Internet space in the last 12 months.
Schustermann & Borenstein GmbH, headquartered in Munich, has acquired all shares of Swiss Online Shopping AG, which operates FashionFriends and premium online fashion shop stromberg.ch, from Swiss media group Tamedia and minority shareholders.
For Schustermann & Borenstein, the acquisition of Swiss Online Shopping AG with its brands FashionFriends and Stromberg fits into the company’s long-term strategy to expand and strengthen its market position in Switzerland and expand its online fashion retail activities in Europe.
Christoph Brand, Head of Digital at Tamedia, commented: “Going forward, we want to focus our efforts in eCommerce primarily on our online marketplaces and classifieds platforms. We believe that in Schustermann & Borenstein we have found the ideal buyer for FashionFriends and Stromberg, as the company’s core competence lies in fashion retail and it has been operating successful fashion communities in various European countries for years.”
Terms of the transaction were not disclosed.