Online retailer Wehkamp acquired by Dutch fashion group Omoda

Omoda has agreed to take over e-commerce retailer Wehkamp from the British private equity firm Apax Partners, bringing the company back under Dutch ownership after more than a decade.

Omoda and Wehkamp said in a joint statement that the takeover remains subject to the necessary regulatory and other approvals. No financial details of the transaction were released.

Led by Jan Baan, Omoda is a Dutch family business that began as a footwear retailer in Zierikzee in 2000 before broadening its focus to fashion. The company strengthened its market position last year with the acquisition of shoe retailer Van den Assem.

By adding Wehkamp to its portfolio, Omoda expects to reach annual revenues of around 600 million euros, cementing its place among the Netherlands' leading e-commerce retailers.

CEO Jan Baan said the acquisition of Wehkamp is intended to broaden Omoda’s brand offering. “Less than five years ago, Omoda began expanding from shoes into clothing. Following this acquisition, we will be active across all segments of the market.” He also did not rule out the possibility of Wehkamp opening physical stores. “We will explore those opportunities in the future.”

Founded seven decades ago as a mail-order business, Wehkamp reinvented itself as an online retailer in 2006. Today, its product range spans fashion, home furnishings, lighting, and beauty items.

Despite its long history, the company has struggled financially in recent years, with sales declining and the most recent reported results showing a net loss of almost 90 million euros. Wehkamp has also undertaken several rounds of layoffs as part of its efforts to improve performance.

As part of the integration, Wehkamp chief executive Martijn Hagman will join Baan as co-CEO of the Omoda Group through the end of 2027. Meanwhile, Erik-Jan Mares, who is due to leave his role as CEO of Zeeman this summer, has been appointed to chair a new supervisory board that will be created following the takeover.