Spartoo Announces the Signing of a Firm Offer to Acquire a Minority Stake in the French Responsible Brand SAAJ to Accelerate Its Development

GRENOBLE, France--(BUSINESS WIRE)--Regulatory News:

Spartoo (Paris:ALSPT) (ISIN code: FR00140043Y1 - mnemonic: ALSPT), one of the leading online retailers for fashion items in Europe, announces the signing of a firm offer with the SAAJ PARIS brand for a minority stake notably through a capital increase to support its development.

SAAJ is a fast-growing digital native brand, founded in 2016 by Maelys and Jérémy. It stands out for its original creations entirely designed and realized in Paris, within the brand's workshop, and its avant-garde responsible production process. In addition to using eco-responsible raw materials, the vast majority of SAAJ's collections are produced in France, in their own production unit, in line with the brand's commitment to French know-how, fair remuneration of artisans and ecology. This positioning allows the brand to adjust production according to actual demand, to limit stocks and transport of goods, and to maximize the use of resources. It is in this context that the "upcycling" approach was launched, which consists in offering, instead of the eternal sales, successful pieces made of materials at the end of production and at a moderate price.

This investment will enable the SAAJ brand to accelerate its development by capitalizing on the strong demand from new consumer profiles looking for authentic and responsible designs at a fair price.

Maelys, co-founder of the SAAJ brand, stated: " SAAJ, a young girl's passion, has become a beautiful, human and exciting entrepreneurial adventure. I am very happy to have a great company like Spartoo by my side to support us in our growth. We are at a stage where we need to rely on the expertise of recognized players in the sector to continue our development.”

Jeremy, co-founder of the SAAJ brand, stated: "I am very happy that Spartoo is joining our journey. When we started thinking about opening the company's capital at the end of 2021, after having experienced another year of strong growth that put our structure to the test, Maelys and I didn't just want an investor to finance our development projects, but above all a solid player capable of providing us with all the necessary support to help us structure ourselves and give our customers the experience they deserve. I think we have found the right partner for this and I am delighted."

Boris Saragaglia, co-founder and CEO of Spartoo, stated: " We are very honored to join Maelys and Jérémy in this high-growth entrepreneurial adventure. Attached to the reindustrialization of France and the use of materials that are more respectful of the planet, SAAJ fits perfectly into this vision. We will work alongside the founders to bring them our resources and expertise in the development of high-growth companies in France and abroad.”

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Gross merchandise value and half-year results 2022,
October 3, 2022 after market close

About Spartoo

With 10,000 brands and more than 1.2 million items, Spartoo offers one of the widest selections of fashion items (footwear, ready-to-wear, bags) in more than 30 countries in Europe, thanks to its team of more than 400 employees of nearly 30 different nationalities. In 2021, the Group generated a GMV (Gross Merchandise Value) of €214 million, 41% of which was generated internationally. With an integrated logistics platform and after-sales service, Spartoo stands out for its customer-centric approach, as evidenced by a very high customer satisfaction rate. The strategy is based on the strong synergies between the online sales model and the advantages of physical stores, which support loyalty and brand awareness. Capitalizing on its e-commerce know-how, Spartoo has also developed a complete range of services for professionals.

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