Samwer brothers sell 3.8 percent stake in Zalando

Global Founders GmbH has cut its stake in Zalando, Europe's biggest pure online fashion retailer, by 3.78 percent, according to a voting rights announcement issued by Zalando on Wednesday.

The stake Global Founders GmbH -- the investment vehicle of German start-up investors Oliver, Marc and Alexander Samwer -- holds in Zalando fell to 4.99 percent on May 22, the filing showed.

Based on Wednesday's closing price, the stake Global Founders GmbH has sold is worth 391 million euros (337.37 million pounds).