These funds will be spent over the next 18 months
Berlin-based startup announced acquisition of Amazon brands. Source: flickr.com
Berlin Brands Group will invest €250 to acquire Amazon brands, Ecommerce News reports. The group aims at becoming the leading e-commerce brand in Europe.
Currently, Berlin Brands Group has 14 own brands that sell over 2,500 products online.
Since November 2020, the company has been on the lookout for companies dealing with home & garden, household appliances, consumer electronics, and sports with an average of €500,000 to €30 million.
The company has so far acquired six online brands. Negotiation with other companies is also progressive.
This is an amazing investment that will open up avenues for emerging brands more so in Europe. The company also looks into expanding the product range as well as the supplier network.
The company has the ultimate goal of bringing many thriving online brands under one roof by the end of 2022. After the sale, the retailers will have the option of devoting themselves to new projects or continuing to develop their brand at the Berlin Brands Group.
We’ve reported that ASOS bought Miss Selfridge, Topman, HIIT, and Topshop.
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