Global Founders GmbH, the investment vehicle of German start-up investors Oliver, Marc and Alexander Samwer, has cut its stake in Zalando, Europe's biggest pure online fashion retailer, by 3.78 percent.

The Samwer brothers’ stake reduction was made public through a voting rights announcement issued by Zalando on Wednesday.

The filing showed that Global Founders GmbH’s position in Zalando fell to 4.99 percent on May, 22.

Based on Wednesday's closing price, the stake Global Founders GmbH has sold is worth 391 million euros, calculated Reuters.

 

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