The Platform Group AG
The Platform Group AG
29/07/2024 | Press release | Distributed by Public on 29/07/2024 14:17
The Platform Group AG: Acquisition of the luxury platform Winkelstraat, Netherlands
Düsseldorf, July 29, 2024: The Platform Group AG (ISIN DE000A2QEFA1, "TPG"),
a leading software company for platform solutions, has acquired the majority of the leading Dutch luxury platform Winkelstraat.
Winkelstraat has more than 350 affiliated luxury retailers and is based in in Vianen, the Netherlands. The company has been in existence for over 10 years and is Market leader for luxury fashion and luxury accessories in the Netherlands.
Over 600 brands are sold online, including Chanel, Hèrmes, Balenciaga, Valentino, Prada, Dior and Burberry.
Joost van der Veer, Winkelstraat: "We are delighted to welcome The Platform Group as the new owner of Winkelstraat.nl. Their strategic investment will not only strengthen our presence in the Benelux region but also accelerate our international expansion efforts TPG's expertise in the German market and its loyal customer base offer us and our partners exciting opportunities. We are looking forward to achieving new growth potential together and to unleash enormous synergies that benefit everyone involved"
The integration of Winkelstraat will be completed in two stages:
From September, the products will be marketed on TPG's other platforms. In particular, the cooperation with fashionette was expanded.
The joint software solution will be implemented from November in order to expand the products worldwide and increase the content base.
Dr. Dominik Benner, CEO of The Platform Group AG: "With the acquisition of Winkelstraat we are significantly expanding our luxury segment. This not only benefits fashionette and our Dutch subsidiary Brandfield, but we are also expanding our partner base and continuing to grow outside Germany. Winkelstraat is the market leader for luxury fashion and luxury boutiques in the Netherlands. Our innovative software solutions will help to realize the full potential of Winkelstraat. Winkelstraat currently generates 85% of its sales in the Netherlands. We will internationalize this significantly in the future. The takeover will be carried out via a newly established SPV and is expected to close in August 2024."
The parties have agreed not to disclose the purchase price.
The Platform Group AG:
The Platform Group AG is a software company that is active in 22 industries with its own platform solutions. Customers include both B2B and B2C clients, with sectors including furniture retail, machinery retail, dental technology, car platforms and luxury fashion. The Group has 16 locations across Europe, with its headquarters in Düsseldorf. More than 25 investments and company acquisitions have been made since 2020. In 2023, pro-forma sales of EUR 441 million with an operating result (adjusted EBITDA) of EUR 22.6 million were realized.
Contact:
Investor Relations
Reinhard Hetkamp, CFO and Head of IR
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Deutschland
corporate.the-platform-group.com