Australian retail group City Chic Collective, which specialises in plus-size women’s apparel, footwear and accessories, has acquired German plus-sized e-commerce retailer Navabi for 6 million euros as part of its strategic plans to get a “foothold” in Europe.
City Chic Collective, listed on the Australian Stock Exchange, has acquired 100 percent of the shares in Navabi in cash from the plus-size online retailer’s founders Zahir Dehnadi and Bahman Nedaei.
Phil Ryan, chief executive officer and managing director of City Chic Collective, said in a statement: “Navabi is an exciting strategic opportunity, giving us a great foothold in the 40 billion euro European plus-size market, which is the next key geography in driving towards our vision to lead a world of curves.
“Over the past decade we have followed Navabi as it has built a strong online marketplace for plus-size brands. The Navabi customer has the same emotional connection that has driven our success, and we are excited to introduce our brands to this European customer base. The acquisition is in line with…
