The Platform Group and fashionette AG to merge

Detials of the merger of luxury accessories vendor fashionette AG and online retail firm The Platform Group have emerged and fashionette will become The Platform Group AG
The Platform Group and fashionette AG to merge

Dusseldorf-based online luxury accessories vendor fashionette AG is to merge with its main shareholder online retail firm The Platform Group GmbH & Co. KG (TPG) which is currently active in seventeen sectors with platform and software solutions, including furniture retail, shoe/fashion retail, bicycle and machine retail and dental technology. The company will then operate under the name The Platform Group AG.

An independent auditor was brought in to assess the merger and determined TPG at a valuation of €155.6 million and a valuation of €87.1 million for fashionette AG. TPG currently holds approximately 43.76% of the shares in fashionette. 

“Merging the activities of both companies will create a new company in the platform sector that is profitable, grows in numerous sectors and is slated to become Europe’s leading platform group,” said Dr. Dominik Benner, CEO of fashionette AG. 

“The previous activities of fashionette AG will become part of the new Group, we will successfully continue fashionette’s positioning in the luxury segment and implement the entry into the platform business with luxury fashion in the fall,” said Laura Vogelsang, member of the management board of fashionette AG.

To get the deal over the line the following has been proposed. The share capital of the company is to be increased by €11.07 million from €6.2 million to €17.27 million against a contribution in kind. The subscription right of fashionette shareholders is to be excluded. New Authorised Capital with a volume of  €8.63 million is to be created and fashionette AG is to be renamed "The Platform Group AG." As a contribution in kind, Benner Holding intends to contribute TPG to fashionette AG. Newly created Authorised Capital would provide the company with greater flexibility for possible capital measures. Since the statutory subscription right is to be excluded in the proposed capital increase through contributions in kind, Dr. Dominik Benner would indirectly hold an interest of approximately 79.81% in fashionette after the completion of the measure.

Main image: TPG management team (source: TPG)

  1. Would you like to write the first comment?

    Would you like to write the first comment?

    Login to post comments
Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.