Thomson Geer has advised Australian fashion retailer, City Chic Collective on its acquisition of Germany-based eCommerce retailer Navabi.
City Chic Collective has acquired 100% of shares in JPC United, the previous owner of Navabi for €6.0m (A$9.6m). Established in 2009, Navabi is an online marketplace selling third-party women’s plus-sized brands as well as their own exclusive brands, which have been the source of majority of Navabi’s sales and growth in recent years.
The acquisition of Navabi represents City Chic Collective’s first foray into continental Europe and the European plus-size women’s fashion market, an area which is of strategic significance for City Chic Collective in its drive to achieve its vision.
This transaction is part of a string of recent strategic moves made by City Chic Collective which Thomson Geer has had the privilege to advise on. In July 2020, David Schiavello and team advised on an A$80m institutional placement and A$31m share purchase and in December 2020 on the acquisition of UK plus size women’s fashion company, Evans Group Limited for A$41m.
Thomson Geer partner David Schiavello said, “We congratulate City Chic Collective as it continues towards its strategic objectives both in Australia and abroad. It is a pleasure to be a part of their drive to becoming a global player in women’s plus size fashion”.
The Thomson Geer team was led by partner David Schiavello, with assistance from associate Taylor Kayes.