Looklet Management Acquires Majority Control of Company, Buys Out Former Shareholder VeePee

STOCKHOLM, Sweden: Leading Fashion Retail Tech company Looklet today announced the completion of a management buyout (MBO), becoming a majority management-owned company after buying out former shareholder VeePee (formerly Vente-Privée.com).

Under the terms of the agreement, Looklet management purchased a large majority stake in the company from VeePee, resulting in the company’s management team now holding about 90% control and ownership of the company, with the remaining 10% owned by three Looklet founders no longer active in the company.

Looklet co-founders Robert Ahlborg and Adam Berg, in addition to CEO Jannis Koehn (formerly at The Boston Consulting Group) take full control of the company after the buy-out, ensuring full entrepreneurial drive to maximize value creation for its clients. Consequently, Looklet implemented a stock option plan for all employees, aimed to incentivise, compensate and reward its employees for working towards the company's long term goals.

Looklet’s CEO Jannis Koehn said: “Looklet’s strong operational and financial trend, combined with recent acceleration of new business opportunities, led to a decision from our management team to acquire full control of the company from our long-term partner and majority majority shareholder VeePee. This is an exciting move for Looklet as we grow into a new, more entrepreneurial era, and we are excited to invest with even more focus in our technology and our visual assets to offer the highest quality of e-com images from the most efficient and simple process possible, to fashion retailers around the world.”

Co-Founder Vente-Privée.com and former Chairman of the Board of Looklet Ilan Benhaim added: “At VeePee, we have been big fans of Looklet’s technology and the management team from early on — they lead the way in fashion content production. Our strategy demanded the divestment, but we gladly remain a Looklet client and wish the team the best possible success as a stand-alone company.”

The MBO follows a period of broadening and diversifying the customer base and accelerating product innovation, especially in terms of elevated image quality, new workflow tools, and a broad range of system integrations and APIs. The acquisition results in an even stronger focus on product innovation and value creation for Looklet clients.

About Looklet

Looklet is a fashion retail technology company that offers a fully automated photography solution for fashion retailers. Looklet’s technology removes the need for large studio productions requiring large teams, by providing tools to create high-quality on-model imagery without the need for photographers, models, hair and makeup artists, digi techs and set designers. Looklet has produced more than 20 million images for retailers globally, and has worked with leading retailers including Saks Fifth Avenue, Best Secret, HBC, Lands’ End, Man of a Kind, VeePee and many more.

For all media enquiries contact:
Jannis Koehn, CEO
HQ: +468 122 049 00
E: jannis.koehn@looklet.com