Tamedia sells fashion platform Fashion Friends
The Zurich-based media company is selling off the fashion platform Fashion Friends, which it acquired just a year ago. The platform was purchased by the Munich-based fashion company Schustermann & Borenstein.
Schustermann & Borenstein has acquired all shares of Swiss Online Shopping as well as the minority shareholders as of April 1, Tamedia announced on Friday. Swiss Online Shopping operates the fashion online outlet Fashion Friends and the premium online fashion store Stromberg.ch.
Tamedia justifies the sale by saying that in the future it wants to concentrate primarily on online marketplaces and classifieds platforms in the area of e-commerce. An ideal buyer for FashionFriends has been found in Schustermann & Borenstein, whose core competence lies in fashion retail and which has been successfully operating fashion communities in various European countries for years. (SDA)
