Gugushev & Partners Law Office advised the majority shareholders in Remix Global AD and the company, one of Europe’s leading fashion resale companies, on the definitive agreement for the sale of the shares in the capital of Remix to ThredUp Inc., one of the largest online resale platforms for women’s and kids’ apparel, shoes, and accessories. The legal team of Gugushev & Partners Law Office included Mr. Stefan Gugushev, Managing Partner, Ms. Dimitrinka Metodieva, Senior Partner, and Ms. Daniela Petkova, Head of Corporate and Tax Department.
The acquisition is expected to close before the end of 2021 and is subject to customary closing conditions and other deal-specific closing conditions. The deal value is approximately $28.5 million and $6.5 million in restricted stock units to vest over four years.
Remix is one of Europe’s leading fashion resale companies, operating in nine Central and Eastern Europe markets, aiming at reducing the destructive environmental impact of the fast fashion industry and shift consumers towards the circular economy.