Transaction Details

June 8, 2017
Munich

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

M&A

Deal Value

N/D

Deal Team

Dr. Martin Kühner, Madeleine Jahr, Fabian Lautenschlager, Nicolas Borchard, Ann-Sophie Bauwens-Adenauer

GCA Altium advises The Corner Berlin on its sale to Lampe Privatinvest

GCA Altium acted as exclusive financial advisor to the shareholders of The Corner GmbH in Berlin, a leading European luxury multi-brand concept store, on its sale to Lampe Privatinvest, a subsidiary of Bankhaus Lampe, part of the German Oetker Group.

The Corner Berlin operates concept stores in Berlin and distributes its high-end fashion and lifestyle products online via Farfetch. Its exclusive range of products comprises renowned luxury fashion brands such as Céline, Dior, Gucci and Balenciaga and focuses on bestselling pieces from first line collections as well as carefully selected lifestyle items to create an inviting and inspiring shopping atmosphere. Furthermore, The Corner Berlin is the exclusive dealer for outstanding products such as the Apple Watch, which was initially only available in The Corner Berlin and five other stores worldwide. Between 2012-2016, the company’s sales growth of 31% p.a. and a strong EBITDA margin of over 20% significantly outperformed the market.

Lampe Privatinvest Management GmbH is an investment company specializing in growth capital and buyout investments. The firm invests in small and medium-sized companies that are headquartered in German-speaking countries. The investment in The Corner Berlin represents an opportunity for Lampe Privatinvest to participate in the continuation of an exceptional growth story together with the founding shareholders.

Josef Voelk, CEO and Founder of The Corner Berlin, said: "We thank GCA Altium for their valuable support during this intense transaction. GCA Altium’s unique sector expertise and skilled execution helped to achieve an outstanding result for all parties."

This is the latest in a series of major fashion and luxury transactions advised on by GCA Altium, which includes advising Breitling on the sale of an 80% majority stake to CVC, KICKZ on its sale to Zalando, Tamedia on the sale of FashionFriends to Schustermann & Borenstein, CVC on its acquisition of Douglas from Advent International, mytheresa.com/THERESA. on its sale to the Neiman Marcus Group and Ulysse Nardin on its sale to Kering.

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