and beginning discussions with The Platform Group regarding a potential collaboration, including evaluation of a consolidation
The Supervisory Board of fashionette AG (ISIN DE000A2QEFA1) (“Company” and together with its consolidated subsidiaries, “fashionette”) today reached an amicable agreement with the Company’s current Management Board members, Georg Hesse and Thomas Buhl, on their resignation as Management Board members with effect from expiration of February 28, 2023. They both have declared to stay available for advice to the company to ensure a smooth handover of business to the new board.
The current board members are stepping down to allow for a strategic realignment under new leadership. In this context, the Supervisory Board today appointed Dr. Dominik Benner unanimously as a new board member and CEO of the company with effect from March 1, 2023. S Dr. Dominik Benner has 15 years of experience in the online platform business. Moreover, he is managing partner and CEO of The Platform Group GmbH & Co. KG, Wiesbaden (“The Platform Group”), which has been fashionette’s new major shareholder since December 2022.
Mr. Stefan Schütze, Chairman of the Supervisory Board of the company, replies:
“I’d like to sincerly thank Georg Hesse and Thomas Buhl for their impressive engagement for the good of society. They have successfully eveloped fashionette to a leading e-commerce group for premium and luxury accessories. I am very glad about you staying connected with the company in form of advising. Furthermore, we welcome Dr. Benner and are looking forward to working together in the future.”
“I am excited about the new task and would like to thank the board members for the forthcoming joint, well-planned handover within the board. Our participation in fashionette is long-term and strategic, so we are now considering a more intensive cooperation,” says Dr. Dominik Benner.
The strategic development of fashionette around a platform strategy offers the opportunity for stronger and more profitable growth.
According to current knowledge, there are no plans to exclude minority shareholders (squeeze-out) from the company or withdraw them from the stock exchange.
To avoid potential conflicts of interest, the directorate will represent the Company in discussions with The Platform Group.
The Platform Group is a group of online platforms connecting 4,000 partners in 16 different industries. In the years 2020 to 2022, more than 16 majority holdings in the online sector were acquired. In compliance with its own statements, TPG achieved a GMV of around 250 million euros with 420 employees in 2022 and is sustainably profitable.