Lauritz.com starts up in Spain in Q4 2016

Company announcement no. 16/2016

To: NASDAQ Stockholm

Copenhagen, 29 July 2016

Lauritz.com starts up in Spain in Q4 2016

Lauritz.com has entered a partnership agreement with Balclis, one of the leading auctionhouses in Spain.

Lauritz.com's ambition with the Balclis collaboration is to build up Lauritz.com as the biggest auction house in Spain, transforming the structure of the market from physical to online auctions making the auction world accessible for a much larger audience.

Balclis is a high end traditional auction house, founded in 1979, doing typically 9 physical auctions yearly. They are specialized in older Spanish art, jewelry and antiquities, prioritizing a more expensive quality segment. Balclis will continue its physical auctions in their own name while Lauritz.com and Balclis together will establish and expand the new online auction business within a broader assortment of items.

Today, Balclis is located in a modernized classical building in the exclusive central part of Barcelona. Furthermore, Balclis has sales office premises in Madrid, open for consignments.

Balclis will now focus their ressources on developing the online business in partnership with Lauritz.com. First in Barcelona, later in Madrid. The mutual goal is to attract local Spanish sellers of auction items and put them up for international online auction on Lauritz.com. All such items will be marked with Balclis' logo when presented on Lauritz.com.

The first online auctions are expected to start on Lauritz.com late 2016 and is not expected to have any significant impact on the turnover in 2016. However, Lauritz.com expects to spend approx. 1 mio. DKK on extraordinary marketing of the Lauritz.com platform and brand in Spain in Q4 2016.

Mette Rode Sundström
CEO

For further information, please contact:

Claus Boysen
CFO
Claus@lauritz.com

For press requests please contact Christina Riis Hansen at christinar@lauritz.com or +45-26891905

Company announcement 16/2016


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Lauritz.com A/S via Globenewswire
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