US investor Putnam Investments has bought a two per cent shareholding in Germany-headquartered eCommerce giant Zalando. At the beginning of October, Zalando announced a capital increase of four per cent – two per cent was bought by Canada-based Ontario Teachers’ Pension Plan. The teachers’ pension fund is also an investor in Rocket Internet’s Latin America Zalando offshoot Dafiti.
Only now has the owner of the remaining two per cent been accounted for – US investor Putnam secured these shares for €72m.
Zalando’s largest owner, Swedish bank AB Kinnevik, recently released its results for the first three quarters, valuing the eCommerce giant at €3.6bn – earlier this year it stood at €3.2bn. In the first half of 2013, Zalando produced €809m in revenue. It looks like these figures were enough to bring Zalando’s two newest owners on board.
Launched in 2008, Zalando is now active in 14 European markets and broke even in its home DACH market last year. There’s been speculation about an imminent IPO though, so far, the company’s management team have remained mum on the subject.
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