European online fashion retailer Zalando has bought the streetwear and luxury fashion website Highsnobiety after it was touted for sale at the end of last year. The company had raised $8.5m in start up funding since it was established in 2005 and claimed a turnover of $60m with online fashion benefitting from the cancellation of live runway shows through the pandemic. Zalando expects the deal to speed up its move into e-commerce while Highsnobiety will reportedly retain its brand and editorial “autonomy”.
Zalando buys Highsnobiety
