Berlin-based online retailer Zalando today announced it purchased a majority stake of Highsnobiety, a streetwear and fashion media and retail site that also provides creative agency services. Both companies have agreed to keep the purchase price private.
Highsnobiety will retain its editorial independence, with creative agency work remaining fully autonomous and management staying the same. Founder and CEO, David Fischer retains a minority stake in the business
Commenting on the acquisition, Zalando founder and CEO David Schneider said, “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 materialize and to shape the future of fashion content in commerce together.”
Highsnobiety was established by Fischer in 2005. Strictly a fashion blog at the time, the website went on to create a network of publishers including Highsnobette, RadCollector and Selectism that were absorbed in 2012. Highsnobiety went on to position itself as an agency and online retailer.
WWD in October 2021 reported Bustle Digital Group was interested in purchasing the platform, however, the deal never materialized. At the time, HighSnobiety was reportedly taking in $60 million in revenue annually.
Zalando is listed on the Frankfurt Stock Exchange and like many online retailers has been challenged by post-pandemic shopping trends as customers return to shopping in stores. In early May, the company reported first-quarter revenues fell 1.5 percent to 2.2 billion euros.