Dress for Less website
07 Mar. 2011
PRIVALIA ACQUIRES DRESS FOR LESSPrivate online shopping club Privalia, operating in Spain, Italy, Brazil and Mexico, has announced its acquisition of German online designer outlet Dress for Less. The 100%-acquisition will be financed with an equity capital of €88 million as well as with the help of external financing and shareholders. The equity capital was provided by the investors General Atlantic LLC, Highland Capital Partners LLC, Index Ventures LLP, and Insight Venture Partners. With this transaction, Privalia enters the German market for the first time.
In October of 2010, Privalia had announced having received a financial support of €70 million by its two new investors General Atlantic and Index Ventures, adding to their already existing shareholder, Highland Capital Partners.
Dress for Less was founded in 1999 and offers about 12,000 items at prices up to 70% below the regular retail price.
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