Private equity firm Palamon Capital Partners has taken a stake in Europe’s largest online designer fashion store Dress-for-Less and plans to raise the e-tailer's presence in Europe.
Palamon’s investment will help lift customer service and enable Dress-for-Less to build on corporate brand awareness within Germany – where the retailer is based – and also within the rest of Europe. Terms of the transaction were not disclosed.
Dress-for-Less operates several full-price online shops for fashion brands and also sells end-of-season designer brands, including Ben Sherman, Calvin Klein, Dolce & Gabbana and Pepe Jeans.
Dress-for-Less founder and joint managing director Holger Hengstler said: “Based on our expertise in fashion and online retail sales, Dress-for-Less is set to grow rapidly within the fast expanding online retail market.”
Palamon Capital Partners principal Dan Mytnik said: “The online apparel market will continue to show very high growth rates across Europe. In Dress-for-Less, we have found a high-quality business that is well placed to benefit from this macro trend.”
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