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Resale market: Vinted set to buy German site Rebelle
Vinted, the Lithuanian specialist in private fashion resale launched a public offering on Monday July 25 for the shares of its German competitor Rebelle. The offer is valid until August 19 and would translate into an acquisition investment worth €30.2 million.
Vinted is offering €1.34 per share, or SEK14.10, for 22.35 million shares. Rebelle is listed on the Nasdaq Stockholm stock exchange. Rebelle's bid committee is said to have unanimously recommended that shareholders accept the offer. A number of key Rebelle shareholders, whose aggregate stake is 64.70%, have reportedly already given their approval for the transaction.
“As industry colleagues, we have been following Rebelle for many years, and are impressed by their range and what they have achieved in the luxury segment,” said Thomas Plantenga, co-founder and CEO of Vinted. “By combining Rebelle’s expertise in this segment with Vinted's geographical reach and broad membership base, we see great potential for creating a stronger value proposition for consumers, and ultimately promote an increase in the resale market's popularity,” he added.
Rebelle, which operates websites in English, French, Italian and Dutch, was founded by Cécile Wickmann and Max Schönemann in summer 2013. The former handed over her position as CEO to Schönemann in December 2020. Rebelle notably chose to differentiate itself by featuring high-end and luxury products, and its catalogue now comprises some 200,000 items.
In February, the company was listed on the Nasdaq Stockholm stock exchange, raising SEK200 million (€19.1 million) on the occasion, in what was hailed as the first ‘green IPO’ on Nasdaq.
Vinted currently claims some 65 million users. The Vilnius-based company is doing business in Spain, France, Belgium, Germany, Austria, the Czech Republic, Slovakia, Poland, Lithuania, Italy, the USA, Canada, the UK, Portugal, Luxembourg and the Netherlands. The group recently launched Vinted Go, a company that is set to operate as the group’s logistics hub, and is also available to third-party brands.
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