Lookiero & Outfittery merge to form a European leader

Lookiero and Outfittery, two prominent entities in the online personal shopping sector, have announced their merger to create a leading force in the European market.

The merged company, known as Lookiero Outfittery Group, is projected to generate a combined revenue of EUR €130 million (GBP £109 million) and expects to achieve a substantial increase in EBITDA following the integration. The group will cater to over three million customers across 13 European countries, continuing to operate both brands on a unified platform.

Lookiero primarily targets women, while Outfittery offers services for both men and women. The combination of their technological resources and customer data aims to enhance the personalisation of services provided to consumers. Despite the merger, both Lookiero and Outfittery will maintain their respective offices in Bilbao and Berlin.

The merger is poised to stimulate value creation, particularly in technology, logistics, and platform management, to better address customer needs. The two companies highlight their complementary strengths in different markets, with Lookiero excelling in France and Outfittery in the DACH region.

Management of the newly formed group will see the founders of both Lookiero and Outfittery working closely. Oier Urrutia, the founder of Lookiero, will assume the role of Chief Executive Officer, while Julia Bösch, founder of Outfittery, becomes the Executive Chair, focusing on board leadership and strategic direction alongside Urrutia.

Julia Bösch commented on the partnership, "Lookiero and Outfittery are two founder-led companies whose strong teams are an ideal match in terms of culture and expertise. With our complementary strengths, we are driving growth. We share the vision of creating a global provider for online personal shopping that supports people to confidently express themselves in their style through the unique combination of human advice & AI."

Oier Urrutia added, "This merger is a major step forward; by combining our technological strengths and deep understanding of our customers, we are creating a global leader in online personal shopping. I'm grateful to our teams and investors for making it possible."

Advisory support for the merger sees Lookiero working with Arcano, Cuatrecasas, and PwC, while Outfittery receives guidance from Raymond James, PXR, and also PwC.

This strategic movement marks a significant development in the online personal shopping landscape, aiming to harness the strengths of both organisations to provide an enhanced shopping experience for the European market.