Rebelle, an online marketplace for high-quality designer fashion in the second hand sector, have received an offer to be acquired by Vinted, one of the largest online international C2C marketplaces in Europe dedicated to second-hand fashion.
Rebelle, founded by Cécile Wickmann and Max Schönemann, operates at the top end of the second hand fashion market, offering high-quality luxury items from major designers such as Burberry , Cartier, Chanel, Christian Louboutin, Giorgio Armani, Jimmy Choo, Karl Lagerfeld, Prada, Tiffany & Co. and Versace.
The Vinted offer is for SEK 14.10 in cash per share in Rebelle, which represents an 8.46% uplift on the closing share price of SEK 13.00 prior to the announcement of the offer and a 75.40% uplift compared to the volume-weighted average trading price of SEK 8.04 for the shares during the last 30 trading days. The offer has been positively received by the Rebelle board.
Even though the independent committee assesses that it would be possible for Rebelle to realise its long term strategy on a stand-alone basis, the independent committee assesses that such realisation would require predominantly consolidation/M&A activities, in particular against the background of the increasingly more competitive business landscape for online second hand fashion marketplaces. Such activities would have to be implemented and integrated in the long term and would thus not likely benefit the shareholders immediately in the short to medium term. Against this background and based on a combined assessment of the Offer, in particular in relation to the Offers immediate benefits of a cash consideration in the short term, the Independent Committee unanimously recommends the shareholders of Rebelle to accept the Offer.– Independent committee of the Board of Directors of Rebelle
The acquisition would propel Vinted from a C2C second hand marketplace into the luxury segment and enable them to expose the Vinted audience of over 65 million users to offers on Rebelle.
As an industry peer, we have followed Rebelle for many years and are impressed with their offering and what they have achieved in the luxury segment. By combining Rebelle’s expertise in this segment with Vinted’s geographical reach and large member base, we see great potential to create a strengthened value proposition for consumers, and ultimately support increased uptake of second-hand. We are also grateful for the broad support that our Offer has received from the Bid Committee and major shareholders of Rebelle.– Thomas Plantenga, CEO of Vinted