An unnamed investor has reportedly acquired a major shareholding in Budapester, a German online and offline retailer of luxury shoes and handbags, giving the company a valuation of €10 million. The business plan calls for an expansion of the offering and the launch of dedicated websites for the markets of the U.S., Saudi Arabia and China. Founded in 1939 and taken over by Andreas Schläwicke in 1993, Budapester had a higher-than-expected turnover of €5 million in 2015 with brands such as Dolce & Gabbana, Jimmy Choo, Lanvin and Tod's. It launched its budapester.com web store more than a year ago, complementing the operations of its two stores in Berlin and Hamburg.

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