Outfittery is a leading personalized fashion shopping platform in Europe, capitalizing on the growing trend of personalization and subscription lifestyles, with a substantial market opportunity in the European apparel sector. The company has shown consistent revenue growth, leveraging data to enhance customer engagement and drive profitability through a strategic focus on private label products. Noah Advisors, a corporate finance boutique, specializes in internet companies, providing extensive M&A experience and a strong network to facilitate successful transactions in the industry.

1. Style, your way.

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3. Outfittery
the European Leader
for personalized fashion shopping

4. 3

5. 4
Unlock consumers’ true style
through technology

6. Consumers shift to personalization and subscription
LifestyleBeauty
FashionMedia & entertainment

7. ▪ US market:
- 1 out of 4 US consumers addressable
- 50m potential customers
▪ Since Stitch Fix's IPO, the company has
consistently grown by c20%
- $1.2bn revenue in FY18A
European apparel market
Online marketTotal Market
$475bn
$102bn
$491bn
$140bn
2018 2022
2018-22 CAGR
Online Market 8 % Total Market 1 %
Potential of personalised shopping market
Operating in a huge market with strong secular tailwind

8. 7
Position in
every
market
Markets
#1 9
Outfittery is the Pan-European market leader
Customers
1M
Net Sales
LTM
€79M
Outfittery is one of Germany’s most recognised menswear brands
(% of men who recognise the brand)
Zalando Outfittery Amazon Otto H&M Hugo Boss
5
13
15
17
24
27

9. Transformational customer journey leading to meaningful
engagement

10. Unstructured data platform
Structured and enriched data
20+
3m Outfits
Proprietary
algorithms
50 Attributes per
articles
200+ Data points per
Customer
Client
Algorithms
Styling
Algorithms
Merchandise
Algorithms
Purchase data
Basket
analysis
Combinations
Order
history
Seasonality
ReturnsPurchases
Article data
Style
Price
Age
Height
Fit
Premium
brand
Customer data
Brand
Preference
Willingness
To spend
Age
Height
SizeGeography
Rich, meaningful and highly actionable data

11. FY16A FY17A FY18A FY19P
2600342 %
1971443 %
1353955 %
552904 %
Private label revenue growing
Leveraging data to develop fast growing private labels
x 4,7

12. 11
3-6
Month Payback
€180
Average Kept Basket
40%
Subscribers
We become the long term wardrobe partner for our customers
2015 2016 2017 2018
25 %
22 %
21 %
16 %
Share of wallet

13. 11
4
(1)
(4)(4)
129
101
79
55
45
Net Revenue Adj. EBITDA
12
FY17A FY18A FY19B FY20E FY21E
26% CAGR
1
Leveraging data & subscription drives profitable growth
Notes: 1. EBITDA adjustments related to Modomoto merger

14. https://www.youtube.com/watch?v=vjRrAfg19Pk&feature=youtu.be

15. 14
Unlock consumers’ true style
through technology

16. 15
Julia Bösch
CEO & Co-Founder
julia@outfittery.com
25% Discount
NOAH19

17. Selected Completed NOAH Transactions
Focus on Leading European Internet companies
Covering over 400 companies across 25 online
verticals, a broad range of over 500 investors as
well as 100+ online-focused corporates
Deep understanding of industry dynamics
Ability to add value beyond banking advice
Facilitates overall process and minimizes
management distraction
NOAH Advisors is globally well connected
and has direct access to virtually all key
players in the industry
Knowledge of and strong relationships with
potential buyers’ key decision makers
Proactively finds and unlocks attractive
investment opportunities for leading investors
Annual NOAH Conference in its 10th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
30 successfully completed NOAH Advisors transactions
underline successful transfer of M&A competencies to
the Internet sector
Entrepreneurial mind-set, focused on growing the
business and establishing a reputation for excellence
Ability to deliver top results in short time frames
Highly success-based compensation structures align
interests of clients and NOAH Advisors, and demonstrate
conviction to deliver top results
Creative deal solutions
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE®
The NOAH Advisors Core Banking Team
Marco Rodzynek
Managing Director & Founder
Jan Brandes
Managing Director
Nikhil Parmar
Director
Olek Skwarczek
Associate
Lukas Schlund
Analyst
December 2014 October 2014
Sale of 100% of
for $800m to
Exclusive Financial Advisor to
Fotolia and the Selling Shareholders
Sale of 100% of
for €80m to
Exclusive Financial Advisor to
Trovit and its Shareholders
October 2016
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
December 2016
August 2017
Financial Advisor to Silver Lake
Financial Advisor to EMK Capital
Investment in
Acquisition of a Majority Stake in
by
by
at a valuation of $200m
November 2019 July 2019
September 2018
Financial Advisor to MagicLab
Financial Advisor to AU10TIX
and its shareholders
Financial Advisor to 10bis
and its shareholders
Acquisition of a 79% stake in $60m Investment in
Sale of 100% in
by
at a valuation of ~$3 billion
at a valuation of $260m by
for €135m to
10Bis