Fashion Trends Group sp. z o.o.
On June 1, 2023, Answear.com concluded an agreement to purchase an organized part of the enterprise (ZCP) from Fashion Trends Group sp. z o.o. (FTG). FTG’s activities, including the SneakerStudio and PRM brands, were contributed in kind in exchange for newly issued Answear.com shares.
Equity Advisors acted as transaction advisor to Fashion Trends Group.
FTG is an e-commerce company from the fashion industry in Krakow, specializing in the streetwear segment. Since its establishment in 2007, it has been run and developed by its founder.
Staying ahead of market trends, in 2015 FTG created a unique SneakerStudio brand. This brand was dedicated to streetwear fashion and focused on the sale of limited footwear, the so-called sneaker shoes. In turn, PRM supplied products from the luxury streetwear & fashion segment.
The company successfully developed e-commerce sales in Europe, but also outside it – offering products in 30 countries.
According to preliminary results for 2022, the revenues of ZCP (which is the subject of the transaction) amounted to PLN 136 million.
The terms of the transaction include the contribution of ZCP in kind in exchange for the issue of newly issued Answear.com shares, the issue of subscription warrants for FTG and subscription warrants for the founder of FTG.
Answear.com is a Polish online multibrand store offering a wide selection of clothes, shoes and accessories from over 500 brands. The company was founded in 2011, currently operates in 11 European markets and serves over 1.6 million customers. In 2021, it debuted on the Warsaw Stock Exchange.
In 2022, the company generated nearly PLN 1 billion in revenue.
