In its second investment announcement this week, Condé Nast Germany has revealed that it has acquired a 26 percent stake in Berlin startup MONOQI, which operates an online store for high-quality design items not unlike e-commerce phenomenon Fab.
Yesterday, the German part of the international media giant announced its investment in online luxury jeweller RenéSim as part of its “international diversification strategy”, and it looks like this was just the first step of many in that regard.
MONOQI, founded in 2011 by Simon Fabich and Felix Schlegel, offers hand-picked design and furniture items which are available to buy at the store usually in limited editions and only for a short period of time.
The Berlin startup already employs about 40 staff and an international team of design scouts who search for suitable products to sell.
The 26 percent stake makes Condé Nast Germany the largest shareholder of the fledgling company, which also boasts Hasso Plattner Ventures, business angel Christophe Maire and other individual investors among its backers.
In Germany, Condé Nast’s portfolio includes VOGUE, GLAMOUR and WIRED.
Top image credit: Thinkstock