Zalando has acknowledged its support of Kinnevik’s decision to distribute all its shares in the retail platform to its investors.
This move comes ten years after the Swedish investment company’s first investment in the leading European retailer and will allow Kinnevik shareholders to become direct shareholders in Zalando.
Throughout 2020, Zalando saw accelerated sales growth compared to previous years during the pandemic, and intends to remain focused on capturing market share and building Europe’s ‘starting point’ for fashion.
Rubin Ritter, Zalando’s co-CEO, said: “We are very grateful for Kinnevik’s support on our journey to build Europe’s Starting Point for Fashion.
“Especially in the early days of Zalando, Kinnevik’s decisive support and willingness to invest and take big risks to follow a long-term conviction has made a significant difference.”
He added: “After such a successful partnership, granting Kinnevik shareholders direct exposure to Zalando is a logical next step and we are looking forward to welcoming them as direct shareholders in Zalando.
“We view this as an opportunity to gain renewed support for our vision and strategy going forward.”