Germany’s Zalando Set To Join Online Flotation Rush
Europe’s biggest online fashion player Zalando plans to raise more than 500 million euros to fund expansion by listing a stake, joining a flurry of e-commerce flotations set to be crowned by Chinese giant Alibaba. The Berlin-based firm said on Wednesday it wanted to list a 10-11 percent stake on the Frankfurt stock exchange this year, which would value the company at at least 4.5 billion euros in what would be one of Germany’s biggest technology flotations for years and Europe’s top tech listing since France’s Worldline in June. Zalando has spent heavily on marketing to establish itself as the leading online fashion site in its core markets Germany, Switzerland and Austria where it makes 60 percent of sales, but is now investing more in its own fashion labels and the latest apps for smartphones to keep customers coming back. Advisors say, Zalando is hoping it will be valued at a premium to its closest competitor Britain’s ASOS.
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