Spartoo.com wins investment to 'sustain aggressive European expansion'
is targeting “aggressive expansion” across Europe after winning investment of €25m (£20.35m).
The third-round funding into the pan-European footwear and bag retailer is led by investment holding company Sofina
, and also includes existing investors A Plus Finance
, Highland Partners
, Endeavour Vision
, and CM-CIC Capital Privé
. It brings total investment in the company to date to €45m (£36.6m).
Announcing the funding today, Spartoo.com said: “The funding will be used to sustain Spartoo's aggressive expansion across the European market.”
"We are thrilled to partner with leading European institutional investors who endorse our growth strategy and are entirely supportive of our customer service strategy and our long term strategic vision," said Boris Saragaglia, cofounder and chief executive of Spartoo.
Spartoo.com was founded in France in 2006 and now sells in the UK and 19 other European countries. It says it currently offers more than 30,000 styles from more than 700 brands, and sold two million pairs of shoes in 2011.