Softbank to invest € 110.9 million in online shoe retailer Eobuwie ahead of its IPO
Zielona Gora, based in Poland eobuwie.pl is a company that sells shoes and accessories online in Central and Eastern Europe. Currently, it is operational in 17 European markets and claims to have successfully developed its own e-commerce with premium fashion – Modivo.
CCC is one of the largest European retail companies and is the majority shareholder of eobuwie.
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eobuwie.pl raises € 110.89 million
In a recent development, the CCC group has signed an agreement with SoftBank Vision Fund 2, under which it will invest 500 million PLN (approx. 110.9 million euros) in eobuwie.pl
In accordance with the terms of this agreement, SoftBank will invest in eobuwie.pl by taking convertible bonds. They will be converted into eobuwie.pl shares at or before eobuwie.pl goes public, which is expected in a year or two.
With this investment, Karol Niewiadomski, Director of Investments at SoftBank Investment Advisers, will join the supervisory board of eobuwie.pl.
The proceeds from this round will be used to accelerate the development of eobuwie.pl. And, with the aim of strengthening its position in the European footwear and clothing market, the company will continue to expand into new markets. It will soon launch logistics centers outside Poland and develop new services, such as a marketplace.
Everything about eobuwie.pl
The company was founded in 1996 when the founders of the company opened their first stationary shoe stores. It was in 2006 that they decided to start their online shoe business. The value of the company in 2010 exceeded the value of sales in traditional stores. And in order to prepare for the further development of its operations, the company extended its logistics infrastructure by leasing new warehouse spaces in 2011.
Then in 2013, the company expanded its activities in the Czech Republic; later opened in Slovakia in 2014; Germany and Romania in 2015; and Hungary, Ukraine and Bulgaria in 2016.
It was in 2014 when she started selling her own Creole brand, then in 2016, the brands Sergio Bardi and Eva Minge. It was in 2016 when the company raised funds from the CCC group.
After that year, in 2017, the Group continued its international development by starting its operations in Sweden, Greece and Lithuania, then in France, Spain and Italy in 2018. In addition, in 2018, the Group has also launched the marketing of its own Quazi brands. and Togoshi and started construction of a new logistics center in Zielona Gora, Poland.
2018 was a year of innovation in the field of multichannel sales. The company introduced the esize.me system: an innovative tool that allows shoe selection based on 3D scans of the foot and the shoe. The service also allows you to shop online without measurement and receive stationery recommendations.
Then in 2019, the Group launched Modivo, a platform offering clothing and accessories in the premium segment. Currently, Modivo’s offer is available in 11 countries. And in 2020 eobuwie.pl opened a modern logistics center in Nowy Kisielin with solutions that improve logistics processes, mainly thanks to a modern sorter. In addition, in the same year 2020, a private label was launched – Eva Longoria. The eobuwie group has the exclusive right to sell products bearing the logo of the Hollywood actress.
eobuwie.pl was founded by Marcin Grzymkowski and Krzysztof Grzymkowski and currently has around half a million mobile app downloads on the Play Store.
The CCC group claims to be one of the largest European shoe retail companies and the majority shareholder of eobuwie.pl. The group has more than 80 e-commerce platforms and 1,000 stores in 29 countries under the brands CCC, eobuwie.pl, Modivo, HalfPrice, DeeZee.
It employs around 15,000 people and sells more than 50 million pairs of shoes per year. The company has been listed on the Warsaw Stock Exchange since 2004.
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