The Platform Group AG (TPG) is expanding its portfolio to include Avocadostore, an online marketplace for more sustainable clothing.
The e-commerce specialist has signed a contract through The Platform Group GmbH & Co. KG to acquire a majority stake in Avocadostore, the group, which also includes the online retailer Fashionette, announced on Monday. Through the takeover, the platform, which was founded in Hamburg in 2010, will benefit from the group’s e-commerce expertise, particularly in the areas of software and marketing.
“We are pleased that we were able to find a partner for Avocadostore who is not only willing to invest, but also has a clear strategic direction in e-commerce – the experience in the platform business is particularly exciting for us,” said Avocadostore- Managing Director Mimi Sewalski. “We are very much looking forward to the knowledge transfer with TPG and its investments and see many strategic points of contact on both sides.”
The Platform Group is taking over the shares from the previous sole owner GLG Green Lifestyle GmbH, which continues to have a stake in the company. The transaction is expected to close in February.
“We attach great importance to maintaining the unique selling point in terms of sustainability and the strong relationship between partners and Avocadostore,” says Dominik Benner, CEO of TPG. “In the future, we would like to onboard more partners across Europe and also expand the platform range in order to attract even more customers for sustainable products.”
About Avocadostor
Avocadostore was founded in Hamburg in 2010. The digital marketplace has a focus on more sustainable clothing. Currently around 1,500 retailers and brands are connected.