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March 7, 2011 03:20 pm GMT
Privalia is very serious about becoming a major private online sales club on a global scale, kicking up its European presence up a notch with the acquisition of Germany's online clothing and apparel retailer Dress for Less. The site was acquired from Palamon Capital Partners, a pan-European private equity firm, and Privalia has disclosed that it raised 88 million euros ($123.4 million) in new equity financing from General Atlantic, Highland Capital Partners, Index Ventures and Insight Ventures Partners as part of the transaction.With the acquisition, Privalia has expanded its geographic reach to Germany (it was already operational in Spain, Italy, Mexico and Brazil) but also extends its business model into the open site, discount and full price segments. In other words, Privalia is on its way to becoming a global online fashion retail powerhouse.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/GzIFQ5jFjpI/
Privalia Raises $123.4 Million, Buys German Online Fashion Retailer "~Dress for Less'
Privalia is very serious about becoming a major private online sales club on a global scale, kicking up its European presence up a notch with the acquisition of Germany's online clothing and apparel retailer Dress for Less. The site was acquired from Palamon Capital Partners, a pan-European private equity firm, and Privalia has disclosed that it raised 88 million euros ($123.4 million) in new equity financing from General Atlantic, Highland Capital Partners, Index Ventures and Insight Ventures Partners as part of the transaction.With the acquisition, Privalia has expanded its geographic reach to Germany (it was already operational in Spain, Italy, Mexico and Brazil) but also extends its business model into the open site, discount and full price segments. In other words, Privalia is on its way to becoming a global online fashion retail powerhouse.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/GzIFQ5jFjpI/
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