Melon Fashion Group Valuation, Funding & Investors

Melon Fashion Group is valued at $451M as of August 2023.

Last Melon Fashion Group valuation

$451M

Secondary · Aug 2023

Key investors in Melon Fashion Group

  • Sistema

Melon Fashion Group Overview

About Melon Fashion Group

Melon Fashion Group is a Russian apparel retailer that owns the Befree, Love Republic, Sela, Zarina, and IDOL clothing brands. It operates more than 900 stores across 169 cities in five countries and employs over 8,000 people. The company generated revenue of 61.6 billion rubles in 2023, up from 46 billion rubles the year before.


Founded

1926

HQ

RussiaSaint Petersburg

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$451M (Aug 2023)

Melon Fashion Group Valuation

Melon Fashion Group is currently valued at $451M, based on its secondary sale in August 2023. Read the announcement ↗

Melon Fashion Group valuation by funding round

Melon Fashion Group valuation by funding round
DateStageValuation
Aug 2023Secondary$451M

Melon Fashion Group Funding History

Melon Fashion Group has 2 recorded secondary share sales and no primary funding rounds.

Melon Fashion Group funding rounds

Melon Fashion Group funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2023Secondary-$163M$451MMelon Fashion Group is a leading Russian apparel retailer owning brands such as Befree, Love Republic, Sela, Zarina, and the newly launched IDOL in September 2023. The company generated revenue of 61.6 billion Russian rubles in 2023, up from 46 billion rubles in 2022. It operated 923 stores across 169 cities in 5 countries and employed over 8,000 people. In August 2023, around the approximate date of July 8, 2023, Eastnine AB completed the sale of its stake in Melon Fashion Group to Gem Invest LLC, a division of Gem Capital, for about 15.6 billion rubles. Separately, AFK Sistema acquired a 47.7% stake for RUB 15.8 billion. These transactions involved changes in ownership among European shareholders and Russian entities, including JSC MFG Invest registered in July 2023. The company's 2022 financials showed revenue of 46 billion rubles, up 23%, EBITDA of 14.6 billion rubles, up 69%, and net profit of 7.8 billion rubles.
Oct 2022SecondarySistema (lead)$255M-Melon Fashion Group is a leading Russian fashion manufacturer and retailer owning brands Zarina, befree, Love Republic, and Sela, operating 845 stores across 181 cities in Russia and the CIS as of end-2021. On October 19, 2022, Sistema JSFC entered binding agreements to acquire a 47.7% stake from Eastnine, East Capital Holding AB, and individual investors for RUB 15.8 billion, financed by own and borrowed funds, with completion anticipated by end-2022 subject to approvals. Sistema indicated readiness to buy remaining 52.3% at the same price per share, implying full company valuation of RUB 33 billion. In 2021, Melon Fashion Group reported revenue of RUB 37.5 billion, up 49% year-on-year, with online sales at 32% of total, and EBITDA of RUB 8.6 billion, up 38% year-on-year. The company had no loans, RUB 5.2 billion in cash equivalents, and net profit of RUB 3.5 billion. This positioned MFG as a high-growth player in Russia's fragmented apparel market, with operational excellence noted by Sistema.

Who has invested in Melon Fashion Group?

1 investor has backed Melon Fashion Group across its funding rounds, including Sistema.

Lead investors include Sistema.


Melon Fashion Group Investors

Investors in Melon Fashion Group by funding rounds participated
InvestorHQRoundsRoleFirst check

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Melon Fashion Group Competitors

Melon Fashion Group competitors include listed companies like Lindex Group, Forus, Goldiam International and Kits Eyecare, and private ones like 100 Thieves and GIVA.

Public and private companies comparable to Melon Fashion Group
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Lindex GroupFinlandFinlandPublicly listed$1.1B$191M$457M1.0x
100 ThievesUnited StatesUnited StatesPrivate--$460M-
ForusChileChilePublicly listed$407M$67M$439M1.1x
Goldiam InternationalIndiaIndiaPublicly listed$103M$25M$464M-
Kits EyecareCanadaCanadaPublicly listed$145M$6M$436M2.3x
GIVAIndiaBangalorePrivate$87M-$423M4.9x

Melon Fashion Group Public Comps

Melon Fashion Group is still privately-owned, but its public comps include Lindex Group, Forus, Goldiam International, Kits Eyecare, Citi Trends, FOPE, Oxford Industries, Outlet Group Holding, Marimekko and Purple Style Labs.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Lindex Group$1.1B$191M1.0x1.0x5.6x5.1x
Forus$407M$67M1.2x1.1x7.1x6.9x
Goldiam International$103M$25M4.0x-16.3x-
Kits Eyecare$145M$6M2.7x2.3x70.4x41.4x
Citi Trends$820M$22M0.7x0.6x25.5x17.0x
FOPE$105M$22M4.0x3.3x19.0x15.8x
Oxford Industries$1.5B$35M0.6x0.6x27.1x8.6x
Outlet Group Holding$234M$48M2.6x-12.4x-

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Common questions about Melon Fashion Group

When was Melon Fashion Group founded?Melon Fashion Group was founded in 1926.
Where is Melon Fashion Group headquartered?Melon Fashion Group is headquartered in Saint Petersburg, Russia.
Is Melon Fashion Group publicly listed?No, Melon Fashion Group is a private, VC-backed company.
What is Melon Fashion Group's valuation?Melon Fashion Group was last valued at $451M in its secondary sale in August 2023.
Who are Melon Fashion Group's investors?Melon Fashion Group's investors include Sistema.
Which companies are comparable to Melon Fashion Group?Companies comparable to Melon Fashion Group include Lindex Group, 100 Thieves, Forus, Goldiam International, Kits Eyecare and GIVA.

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