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Australia's City Chic acquires plus-size e-retailer Navabi for €6 mn

02 Aug '21

1 min read

Pic: City Chic

Australian omni-channel retailer City Chic specialising in plus-size women’s apparel and footwear, has acquired Germany-based JPC United’s Navabi, an online marketplace selling third-party women’s plus-size brands. City Chic paid Au$9.6 million (approximately €6 million) to founders Zahir Dehnadi and Bahman Nedaei, who have stepped away from the company.

Established in 2009, Navabi has also developed its own brands exclusively sold on the marketplace, which have grown to become the majority of the sales in recent years. The website with 5.8 million visitors in 2020 generated €10.4 million in sales revenue, the companies said in a joint press release.

“Navabi is an exciting strategic opportunity, giving us a great foothold in the €40 billion European plus-size market, which is the next key geography in driving towards our vision to lead a world of curves. The acquisition is in lie with our tried and tested strategy of increasing our global digital customer base and driving profitable revenue growth,” said Phil Ryan, CEO and MD of City Chic.

City Chic has acquired 100 per cent of the shares of Navabi, including all assets and liabilities of the company. The acquisition will be funded from City Chic’s existing cash balance.

Fibre2Fashion News Desk (KD)

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