JOOR, a New York City based online wholesale marketplace for fashion, beauty and home, has acquired Berlin based B2B wholesale technology firm Veee. Vee was acquired from Blackstone backed Clarion Events’ (London) subsidiary Premium Group (Berlin). Joor is also entering into a strategic partnership with Premium Group, a premier fashion trade show organizer. Clarion Events is one of the world’s leading events organisers.
The international law firm Taylor Wessing provided comprehensive legal advice on the M&A transaction to its client JOOR with a team led by Frankfurt based M&A Partners Stephan Doom and Hassan Sohbi together with a team from the US law firm Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, New York.
As a result of the acquisition of Veee, approximate 1,800 of Veee’s existing customers will be added to the JOOR online platform, offering them new efficiencies and access to global retailers on the JOOR platform. These new relationships should not only promote JOOR's leading presence on the European market, but also pursue the company's mission of advancing the wholesale business to further develop the brand and retail industry everywhere. “We are very glad that we managed to get this deal signed within a very ambitious time frame and with all of the stakeholders involved. We wish our client JOOR all the best in further scaling the business and offering its market leading technology to a wider customer base.” said M&A Partner Stephan Doom, Taylor Wessing.
JOOR is the world’s industry-standard wholesale platform for fashion, beauty and home, that transacts over USD 1 billion in GMV (Gross Merchandise Volume) every month. More than 8,600 brands and over 200,000 retailers across 144 countries connect on the platform every day. JOOR is headquartered in New York City and has offices in Los Angeles, Philadelphia, Paris, London, Milan, Madrid, Melbourne and Tokyo.
Legal Advisor to JOOR:
Taylor Wessing: Lead Hassan Sohbi (Partner) and Stephan Doom (Salary Partner), Christopher Stahl (Senior Associate), all Corporate/M&A, Frankfurt, Paul Voigt (Partner), Wiebke Reuter (Associate), both IT/Data Protection, Berlin, Dr. Bert Kimpel (Partner), Johanna Thünnesen (Associate), both Tax, Düsseldorf
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP: Colman L. Lynch (Partner), Jacquelyn O. DeVore (both Corporate/M&A), Vikki Nguyen (IP / IT; all New York, USA)