German online fashion platform BestSecret will be IPO next year

2022-11-21
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Author:Wang Dongjie
Source: ennews

ByIPO plan,The valuation of BestSecret may exceed 3 billion eurosBestSecret wants to use the funds raisedcomeInternational expansion.

 

BestSecret is an online fashion platform located in Munich, GermanyIt offers high-end brands such as Dior, Armani and Puma at discounted prices. In order to be able to shop on the platform, customers must become membersup to now,Already have1 millionuserRegister.

 

Not limited to the local German market,ThecompanyActive throughout Europe, most of its revenue comes from online sales,However, some goods are also sold in Munich, Frankfurt and ViennaOfflineShop sales. becauseThe epidemic situation has promoted the development of the entire e-commerce industry, sales of the platformalsoIt shows exponential growth.It is estimated that the total sales this year will reachAbout 800 million euros, an increase of 40% over last year.

 

In addition,The company's projected EBITDA for this year(EBITDA) will reach 135 million euros, an increase of about 25%.ExpectedIn 2022, its profit will increase by more than 160 million euros.

 

In 2016, the parent company of BestSecret, Schusterman&Borensteincoverfinancial investmentcompanyPermira acquired at a valuation of 730 million euros,nowadaysPermira hopes to sell part of its 80% stake in BestSecret. The CEO of Permira saidIt is expected thatThe IPO will be held in the summer of 2022.

 

Zalando, MyTheresa, About You and other GermansPlatform,as well asRevolve, Farfetch, Bohoo, Next and AsosSexual platforms are all competitors,The average transaction price is about25 times of Ebitda's expectation in 2022. A similar valuation would bring the value of BestSecret to nearly 4 billion euros.

 

However, how many investors are actually willing toBestSecret payment remains to be observedThis will depend on how the company continues to develop and how its competitors are rated at that time. The IPO will inject capital into the Company's further international expansion.

 

With the development of e-commerce, not only has Amazon and other giant platforms grown rapidly, but also many local platforms in Europe have been successively financed and listed, many of which are also forces that can not be underestimated, and can also be used as a reference choice for sellers' multi platform layout.


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