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This article was published on February 21, 2013


    Condé Nast Germany buys 26 percent stake in Berlin startup and Fab rival MONOQI

    Condé Nast Germany buys 26 percent stake in Berlin startup and Fab rival MONOQI Image by: ssstep
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    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.

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    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