Tengelmann and Holtzbrinck to exit Brands4Friends

Dec 21, 2010 • James Mawson

Online shopping clubs now account for about 20% of online fashion sales in Europe, according to eBay, which is buying Brands4Friends for $200m from strategic investors Holtzbrinck and Tengelmann Group.

US-listed online auction company eBay has agreed to acquire Brands4Friends, a Germany-based internet shopping club backed by strategic investors Holtzbrinck and Tengelmann Group, for €150m ($200m).

Doug McCallum, senior vice president for eBay in Europe, in a statement said: "With the acquisition of Brands4Friends, we will enter the online shopping club market with an established partner."

Online shopping clubs now account for about 20% of online fashion sales in Europe, according to eBay’s research.

Founded in 2007, Brands4Friends has…

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