Auden AG enters into investment deal with Curated Shopping Group
- Berlin-based investment company extends convertible loan of EUR 1 million to European web retailer of stylist-assisted men's fashion - Expanded investment participation planned as next step - Auden AG seeks shareholding of at least 10 per cent
Berlin - Auden AG, the Berlin-based investment company, is entering into an investment participation with Curated Shopping Group, beginning with a convertible loan in the amount of EUR 1 million. The company has established a significant e commerce presence in the German-speaking market over the past five years, building a successful web retail business for men's fashion and style advice under the name "MODOMOTO". Its business model combines the convenience of online shopping for high-quality men's fashions with personalised, stylist-assisted advice. Following the acquisition of "The Cloakroom", a competing men's fashion e-tailer in the Netherlands, Curated Shopping Group now has businesses in seven European countries, making it an established international player. In pursuing its expansion strategy, the company has drawn added strength from investors with the depth of experience to actively support and guide its growth, including notably Kees Koolen (former CEO of Booking.com), Sitar Teli (Connect Ventures), and Hein Pretorius (former CEO of Allegro Group).
The investment by Auden AG, as the first German institutional investor in Curated Shopping Group, follows an exhaustive examination of the company's market and business model. In order to provide immediate capital to finance rapid growth, the initial investment is in the form of a convertible loan, with the immediate and near-term aim of further broadening the investment role through participation in a capital increase and conversion of the loan into shares. In line with its investment policies, Auden seeks a shareholding of at least 10 per cent.
In recent months, MODOMOTO has continued to build its customer base and grow rapidly. For 2016, the company anticipates full-year revenues well into the double-digit millions, with a significant increase over prior-year sales. Christofer Radic, CEO of Auden AG, sees the participation in Curated Shopping Group as yet another instance of its forward-looking investment policy in growth ventures: "We have long since been convinced by the high potential of the trend toward curated shopping, which is at the centre of MODOMOTO's business model. We are truly delighted at this opportunity to work hand-in-hand with the management team to help foster its continued rapid growth."
About Auden AG: Auden AG (Frankfurt Stock Exchange; ISIN DE000A161440), headquartered in Berlin, invests a portfolio of carefully selected high growth businesses. The company follows an active investment approach focused on portfolio support and value generation. Through its stringent selection of targets and active engagement with each portfolio company, Auden AG offers family offices, institutional and private investors a diversified vehicle to invest in European high-growth companies, a market that is both highly complex and difficult to penetrate for investors. Auden AG is a listed investment company majority owned and funded by its senior management, ensuring complete alignment of interests between investors and funds manager. This alignment is also reflected in Auden's policy of not charging management fees, carried interest or profit share.
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Contact: Auden AG Am Kupfergraben 6 10117 Berlin Germany Phone: + 49 30 80494800 Fax: + 49 30 80494809 Email: firstname.lastname@example.org
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Language: English Company: Auden AG Am Kupfergraben 6 10117 Berlin Germany Phone: + 49 30 80494800 Fax: + 49 30 80494809 E-mail: email@example.com Internet: www.auden.com ISIN: DE000A161440 WKN: A16144 Listed: Regulated Unofficial Market in Berlin, Hamburg, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service