EQS Group
Jul. 29, 2024, 06:50 AM
EQS-News: The Platform Group AG / Key word(s): Investment/Takeover
The Platform Group AG: Acquisition of the luxury platform Winkelstraat, The Netherlands
29.07.2024 / 12:50 CET/CEST
The issuer is solely responsible for the content of this announcement.
The Platform Group AG: Acquisition of the luxury platform Winkelstraat, The Netherlands
Düsseldorf, 29 July 2024.
The Platform Group AG (ISIN DE000A2QEFA1, “TPG”), a leading software company for platform solutions, has acquired a majority stake in the leading Dutch luxury platform Winkelstraat. Winkelstraat has over 350 connected luxury retailers and is based in Vianen, the Netherlands. The company has been in existence for over 10 years and is the market leader for luxury fashion and accessories in the Netherlands. More than 600 brands are sold online, including Chanel, Hèrmes, Balenciaga, Valentino, Prada, Dior and Burberry.Joost van der Veer, Winkelstraat: “We are thrilled to welcome The Platform Group as a new investor in 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 their loyal customer base present exciting opportunities for us and our partners. Together, we look forward to achieving new heights of success and unlocking enormous synergies that will benefit all stakeholders.”
The integration of Winkelstraat will be completed in two stages: From September, the products will be marketed on TPG's other platforms, and in particular the collaboration with fashionette will be expanded. From November, the joint software solution will be implemented 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. Not only will fashionette and our Dutch subsidiary Brandfield benefit from this, but we will also expand our partner base and continue 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 exploit Winkelstraat's full potential. Winkelstraat currently generates 85% of its sales in the Netherlands. We will significantly internationalize this in the future.”
The Platform Group AG:
The Platform Group AG is a software company that is active in 22 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture retail, machinery retail, dental technology, car platforms, and luxury fashion. The Group has 16 locations across Europe and is headquartered in Düsseldorf. Over 25 investments and company acquisitions have been made since 2020. In 2023, pro-forma sales of EUR 441 million and an operating result (adjusted EBITDA) of EUR 22.6 million were realized.
Contact:
Investor Relations
Reinhard Hetkamp, CFO and Head of IR
ir@the-platform-group.com
Schloss Elbroich|Am Falder 4|40589 Düsseldorf | Germany
corporate.the-platform-group.com
29.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | The Platform Group AG |
| Schloss Elbroich, Am Falder 4 | |
| 40589 Düsseldorf | |
| Germany | |
| E-mail: | ir@the-platform-group.com |
| Internet: | https://the-platform-group.com/ |
| ISIN: | DE000A2QEFA1 |
| WKN: | A2QEFA |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1956095 |
| End of News | EQS News Service |
195609529.07.2024CET/CEST
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