Globalscope deal: Percentil buys German Kirondo becoming #1 second hand fashion e-shop in Europe
PERCENTIL.com announces the acquisition of kirondo GmbH which operates the online second hand kids fashion store
The purchase of kirondo.de, number one German player in its sector, positions PERCENTIL as the leading player in three of the largest markets in Europe in online second hand fashion commerce: Spain, France and Germany.
PERCENTIL thereby adds a second processing and purchasing center in Berlin intended to be the focus for future growth. With the 30,000 items kirondo currently has in stock PERCENTIL becomes the largest second hand online clothing shop in Europe, totaling 120,000 almost as new items. Both centers will operate independently, which will allow them to maximize rotation as they will move items from one to the other as needed.
Thanks to these two logistics centers in Europe, PERCENTIL expects to sell more than 800,000 items this year. This will make the company the largest second hand online retailer on the continent, consolidating three key markets as it prepares to expand the business to other regions by the end of 2015.
According to Luis Ongil, co-founder and CEO of PERCENTIL.com, “with this operation we give huge push to our business as we more than double our processing/selling capacities acquiring the number one player in the most important European market,Germany. This ‘two-hub strategy’ is key to offer the best shopping experience to our customers, and brings us one step closer to our dream of building the largest almost as newnfashion re-seller in Europe.”
Christopher Deckert, kirondo co-founder and CEO says “through this deal, kirondo will be able to push its presence beyond Germany and Austria into other Central European markets. In addition, we are excited to build on PERCENTIL’s experience in the women’s segment allowing us to quickly step into this field”.
Additionally, Hendrik Schlereth, co-founder and COO of kirondo, comments: “Initial tests of stock exchange between the two hubs underline the tremendous opportunities for margin increase and stock rotation. For example, we are now getting 5,000 winter items from PERCENTIL’s hub to serve our customers during the remaining cold days while Spanish and French customers start enjoying spring-like weather. ”
CatCap exclusively advised kirondo and their shareholders on the sale to PERCENTIL