fashionette expands business model to include a platform strategy in luxury fashion

fashionette expands business model to include a platform strategy in luxury fashion

Duesseldorf, Germany, April 13, 2023. fashionette AG (ISIN DE000A2QEFA1) ("Company") plans to expand its business activities in the third quarter of 2023 and to establish its own business model as a European platform in the luxury fashion sector.

The aim is to strengthen the luxury fashion and luxury leather goods segment and to connect retailers and manufacturers across Europe to the platform to significantly expand the product range. The preparations for the implementation of the platform strategy and the necessary software structure have been initiated by the Executive Board. fashionette aims to unite a three-digit number of luxury goods suppliers in Europe on the platform in 2023 and to have implemented the technical connection. The technical connection will be realized both via the ERP systems of the partners and via its own ERP system, that will be made available to the partners.

Dr. Dominik Benner, CEO of fashionette AG, emphasizes the strategic importance: “At fashionette, we are now clearly positioning ourselves in the luxury segment. In addition, we closed unprofitable business units at the beginning of the year. The now-decided platform strategy is a milestone for fashionette. On the one hand, we will occupy luxury fashion. Here, the growth potential is the greatest. At the same time, there are very few competitors. On the other hand, the platform strategy allows us to grow in a scalable way in several EU countries, which was not possible before.”

In the 2023 business plan, pro-rata contributions to revenue and earnings from the platform strategy will be taken into account and reported accordingly.

About fashionette AG:

fashionette AG is a leading European, data-driven e-commerce group for premium and luxury fashion accessories. On the online platforms fashionette.com and brandfield.com, the fashionette group offers not only inspiration, but also a selected range of premium and luxury fashion accessories, such as handbags, shoes, small leather goods, sunglasses, watches and jewelry from more than 300 brands, including private labels. Based on more than ten years of experience in the fashion accessories sector, fashionette AG has developed an innovative proprietary IT and data platform which, with the help of state-of-the-art technologies and artificial intelligence, enables customers throughout Europe to make personalized online purchases of premium and luxury fashion accessories. For more information about fashionette AG, please visit corporate.fashionette.com or the online platforms www.fashionette.com and www.brandfield.com.

Contact:

Investor Relations
Jochen Reichert
ir@fashionette.de
Lierenfelder Straße 45 | 40231 Duesseldorf | Germany
corporate.fashionette.com