Highsnobiety will reportedly act as a strategic and creative consultant to Zalando following the move, and founder and CEO, David Fischer, will retain a minority stake in the business.
The two companies will “join forces to lead the way in engaging and inspiring customers”. They will also leverage each other’s complementary strengths by “merging Highsnobiety’s cultural fashion authority with Zalando’s fashion network, e-commerce know-how, and operational capabilities”.
Highsnobiety said it will help Zalando develop new spaces for their platform, and in turn, said joining the Zalando Group allows Highsnobiety to “leverage Zalando’s expertise and resources” to improve on their e-commerce capabilities.
Highsnobiety was founded in Berlin in 2005 by David Fischer as a blog about the convergence of streetwear and high-end luxury fashion. Today, Highsnobiety comprises a publishing arm, creative consultancy and a curated commerce platform, which now “counts among the most influential global voices in the new luxury space and in culture at large”.
As part of the deal, Highsnobiety will retain its editorial and curational autonomy, with the publishing and agency work remaining fully independent. Highsnobiety will also continue to be led by its two managing directors, David Fischer and Jürgen Hopfgartner.
Reportedly all parties have agreed not to disclose the financial details. Highsnobiety was advised in this transaction by Liontree, V14 – Vogel, Heerma and Waitz and Taxess. Zalando was advised by White&Case, PwC and McKinsey.
David Fischer, Highsnobiety’s founder and CEO, said: “Highsnobiety has mastered the art of turning stories into products and products into stories. I am very excited to bring our capabilities to Zalando’s commitment towards fashion inspiration and together reimagine the future of content and commerce.
“Equally, I am thrilled to tap into Zalando’s unrivalled expertise in scaling e-commerce platforms and bring my lifetime’s passion work to the next level.”
David Schneider, Zalando’s founder and co-CEO, added: “Both of our companies share a passion for building strong brand partnerships and enabling brands to inspire audiences with their products and stories.
“Partnering with Highsnobiety will allow us to execute much faster on our ambition to offer the most relevant and engaging – as well as convenient – shopping experience to our customers. I’m excited to see our joint vision materialise and to shape the future of fashion content in commerce together.”