The Platform Group continues your shopping tour.
The Düsseldorf e-commerce group is expanding its portfolio in the luxury segment. On Friday, the company announced the majority takeover of the French luxury platform Joli Closet.
Accordingly, the group of companies signed a contract for the acquisition of 50.1 percent. According to current plans, the end of the transaction is scheduled for June 2025. Notification of the purchase price of the agreement that has existed since April has been agreed.
For The Platform Group, who took over the German online retailer Fashionette AG in 2022 and invested in the Luxury watch platform Chronext in November 2024, luxury products are not new territory. With Joli Closet-a platform founded in 2015 for used luxury items in the areas of fashion, handbags, shoes and watches-the company now also opens up the second-hand market.
The aim of the takeover is to further expand the luxury sector of the group and in particular to strengthen the vintage area on the existing platforms fashionette, angle stream, chronext and Brandfield.
“With the takeover of Joli Closet, we are occupying the area of the used luxury goods for the first time with our own platform, a market with over 40 billion euros in volume worldwide,” explains Dominik Benner, CEO of The Platform Group AG. “In particular, we will link our existing luxury platforms such as fashionette and angular streak directly and thus significantly expand the Vintage area.”