Fashion For Home, a Germany-based designer furniture e-commerce company backed by publisher Georg von Holtzbrinck’s venture capital affiliate Holtzbrinck Ventures, has been acquired by peer Home24, TechCrunch reported yesterday.
Financial details of the transaction have not been disclosed. Fashion for Home will continue to operate as a separate brand while the company’s founders join Home24’s management team.
Fashion for Home runs an online shop for designer furniture that delivers goods straight from the manufacturer to the consumer. It also has showrooms in several cities across Germany and in Vienna, Austria.
The company was originally backed solely by incubator Rocket Internet, but Rocket exited when it sold shares to Acton Capital Partners and Holtzbrinck Ventures as part of an Acton-led funding round in 2012. The size of that round was not disclosed.
Fashion for Home operates in Germany, the Netherlands and Austria. Home24 also sells to customers in all three markets as well as Switzerland, France, Belgium, Italy and Brazil, the latter through a local subsidiary.
Domenico Cipolla,CEO of Home24, said: “Fashion for Home cut out the middlemen to make expensive design products affordable and accessible for everyone. To accomplish this, Fashion for Home has built a strong design team, an excellent global sourcing network and an overall strong product expertise.
“Fashion for Home products will be integrated in the Home24 platform and benefit from Home24’s international marketing, technology and fulfilment powerhouse.”