2 minutes
Scalpers' sale on hold due to global economic uncertainty
Scalpers has put its sale on hold. After having commissioned investment bank Arcano Partners earlier this year the sale of its majority stake, Jaime Bergel and Pedro Sainz de Baranda, who own 70% of the company, have decided to halt the process due to global economic uncertainty.
The aforementioned bank had been preparing the sale booklet to present to potential buyers, but has finally opted to put the operation on hold, as reported by the newspaper El Confidencial.
Among the factors that influenced this decision are the economic instability resulting from the latest pandemic and the war in Ukraine, which is directly affecting consumption and can be measured through indicators such as inflation, a forecasted drop in GDP, and the increase in production and logistics costs.
Before the invasion of Ukraine by Russia, and within a more favorable economic context, the main owners of Scalpers considered selling their share of the company, which closed FY 2021 with an Ebitda of 16 million euros and a 50% growth in turnover to 110 million euros. With this trajectory, the company placed its valuation at 160 million euros, although the selling price of the shareholders would be around 200 million euros, according to the aforementioned media outlet.
Founded in Seville in 2007, Scalpers has been 70% owned by Bergel and Sainz de Baranda since 2017. The investors entered the capital in 2014, but only then did they acquire the majority stake from three of the founding partners, Alberto Artacho, Marcos Ybarra and Laura Vecino, wife of Rafael Medina, who became part of the Inditex group (and currently works for WOW, Dimas Gimeno's concept store).
Another 20% of the shares are in the hands of Borja Vázquez and Alfonso Vivancos, co-founders of the company. The remaining 10% belongs to the Phoenix Group together with minority partners.
The Scalpers group's brand portfolio does not only include the eponymous firm, but is also comprised of the footwear brand Mim Shoes and bridal wear brand Victoria. It also acquired a majority stake in Jorge Vázquez in 2018.
Aside from its divesture, the Scalpers brand continues to expand. This year, the group opened a flagship store for its womenswear line on Calle Claudio Coello in Madrid, and entered the Chilean market. Scalpers has 250 points of sale in total (including its own stores and corners in El Corte Inglés and El Palacio de Hierro) in six countries and directly employs 1,300 people.
Copyright © 2024 FashionNetwork.com All rights reserved.
