Shoepassion Group has successfully acquired the luxury retail platform Mybudapester.com following its insolvency, aiming to leverage its innovative offerings and integrate them into its portfolio.

Target Information

Mybudapester.com, a luxury retail platform established in Berlin in 2014, has recently been acquired by the Shoepassion Group as of June 1, 2024, following the insolvency of Mybudapester.com GmbH. The platform, originally associated with the traditional Berlin luxury shoe retailer Budapester Schuhe, has transformed over the years into an innovative luxury retail hub that connects various physical and online retailers.

Facing financial challenges, Mybudapester.com filed for insolvency in late 2023 due to its inability to meet payment obligations. This prompted the appointment of insolvency administrator Dr. Joachim Heitsch from the law firm Kühnel, Rosenmüller & Kollegen, who, in collaboration with the M&A advisory firm Redwood Partners, initiated a search for a suitable investor.

Industry Overview

In Germany, the luxury retail sector has been navigating through a transformative period, characterized by significant shifts in consumer behavior and increasing competition. The rise of e-commerce has fundament