The week is less than an hour old here in California but the blog is already up and running because the eBay shopping season continues. The company today announced it has reached a definitive agreement to acquire all of the shares of brands4friends, Germany’s largest online shopping club for fashion and lifestyle, for cash at a transaction value of approx. US$200 million (EUR150 million). The move is designed to strengthen eBay’s position as a leading online fashion destination in Europe.
Founded in 2007, brands4friends has approximately 3.5 million members in Germany, and has held a wide variety of campaigns with over 600 top brands, including international fashion brands such as Buffalo, Calvin Klein and Diesel. The company, which employs some 200 people, is headquartered in Berlin.
UPDATED 12:45pm PT 12/20/10
Cheers,
RBH
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