eBay Inc. has announced it has completed its previously announced acquisition of brands4friends, Germany’s largest online shopping club for fashion and lifestyle. In accordance with the terms of the acquisition agreement announced on Dec. 20, 2010, eBay acquired brands4friends for a transaction value of approximately US$200 million (EUR150 million) in cash.
The move is designed to strengthen eBay’s position as a leading online fashion destination in Europe. eBay is the world’s leading online marketplace and a leader in online fashion sales, generating more than $5.4 billion in clothing, shoes and accessories merchandise volume annually.
“With the acquisition of brands4friends, we will enter the online shopping club market with an established and dynamic partner who has the expertise, relationships and passion to match our own ambition. We expect many eBay customers will enjoy great deals on international fashion brands by joining the brands4friends community.”
brands4friends.de is Germany’s largest online shopping club with approximately 3.5 million registered club members, who are on average 32 years old.
brands4friends.de is one of the fastest growing ecommerce communities worldwide, with successful international operations in Austria, the U.K. and Japan. With a total of 3.5 million members in Germany, brands4friends.de sells high-quality goods from renowned fashion and lifestyle brands at significantly reduced prices exclusively to its members.Follow @Alltopstartups