There’s no business like shoe-business! The German-French battle of Zalando vs. Spartoo is going into the next round.
"Spartoo, a French online shoe retailer, has hired investment bank Jefferies to help it raise 100 million euros from a new investor as it seeks to expand, sources familiar with the situation said.
Jefferies and Spartoo, which one of the sources said was worth between 200 million and 250 million euros, could not immediately be reached for comment.
The unlisted company, which calls itself Europe's No. 1 online shoe retailer, has said it is aiming to boost sales to 100 million euros this year from 60 million euros last year."
With this, Spartoo seems to have surpassed their original revenue target of 50 million euro for 2010.
Zalando was valued already last year at least at 370 million euro. And parallel to Zalando in Germany, the Zalando investors are pushing their shoe businesses via Bigfoot GmbH in Asia and South America.
Besides the Samwer brothers, other investors involved with Zalando/Bigfoot include Holtzbrinck, Kinnevik and Tengelmann.
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.