Fashion For Home Has Been Acquired By Home24
Rocket Internet-branched Home24 has successfully acquired online designer furniture retailer Fashion For Home. Both companies will merge under one roof, but will still have their own company identities.
Home24 is a European online furniture store founded by Rocket Internet. The company has acquired yet another online furniture store known as Fashion For Home. The German online designer furniture retail store's founders Christoph Cordes and Marc Appelhoff will stay as part of the European online furniture store's management team, while both brands will remain a separate entity.
Rocket Internet was an original supporter of the online designer retail store. The German internet company disposed its shares during a partial 2012 exit. The Internet company founder Oliver Samwer was known as a bully when it comes to e-commerce related to furniture, and it came as a surprise when the Internet company partially closed.
The acquisition of Home24 for Fashion For Home is unlikely a success story for other company investors like Holtzbrinck Ventures and Acton Capital Partners, not unless the Ikea-like company pulls off its IPO plans that has been in the rumours.
The European initial public offerings are picking up reputations with regard to delaying tactics. Some of the companies that had trouble with IPOs are music streaming site Deezer and Rocket Internet's HelloFresh.
Chief Executive Officer of Home24 AG Domenico Cipolla acknowledged that the acquisition of Fashion For Home is a complement for strengthening its leadership. "Our priority is to turn this company into a really long term-orientated, sustainable, profitable company... an IPO for us at this point in time is not an option," Cipolla said.
Both companies are working to revolutionize the way people purchase household furniture. Also, their goal is to become the global leader in online retail furniture.
Home24 operates in seven European market cores like Germany, Italy, Belgium, Switzerland, Austria, Netherlands, France, plus a Brazil subsidiary. Fashion For Home will integrate with the Home24 platform to benefit the online furniture store's technology, international marketing, and powerhouse fulfilment.
Be Blessed By This Robot Priest In Germany
A robot priest named BlessU-2 beams lights from its hands and is giving 'auto-blessings' in the same German city where Martin Luther launched the Protestant Reformation.
Meet Elextra, Porsche Mission E And Tesla Model S' Biggest Rival
Elextra EV is being designed in Switzerland by Robert Palm, CEO of design house Classic Factory, but the project involves several other brands that are contributing in their respective areas of expertise.
Xiaomi Mi 6 Might Not Launch In US And Europe Until 2019
This delay might be because of the "innovation for everyone" mantra that Xiang and Donovan Sung, Xiaomi’s director of product management, have been harping on.
Starship's Domino Pizza-Delivering Robots Will Soon Charm Its Way Across Europe
The first Domino's pizza-delivering robot will be unveiled in Germany and Dutch cities this summer. The six-wheeled food delivery device is completely autonomous and might be carting pizzas all over Europe if successful in its initial trial.
New Hybrid Cars Rock Green Car Industry
Hybrid car sales grew impressively in Europe last year. However, it's the new fuel-efficient mild hybrids that are cheaper and less complex than full-hybrid powertrains that will make real impact in the midterm.
MORE IN ITECHPOST
Welcome To InsurTech: The Next Generation of Insurers
With how quickly technology has advanced in the past couple of decades, it's no wonder that it is changing many industries as we know it. Insurtech is sure to give insurance companies a new look and a modern business model to go by.
How Do Personal Emergency Response Systems Work?
Personal emergency response systems, known as PERS for short, are systems that help people to raise the alarm and get immediate help when a medical or personal emergency occurs. They are ideal for older people and anyone with a mobility issue or an injury or illness that can cause falls.
Game Developers’ Different Roles in the Studio
Learn about the different professionals involved in developing video games. Becoming a game developer is one of the coolest jobs around and your 14-year-old self, perched on the edge of your bed as you play PlayStation, will thank you for making such an awesome career move.
Surviving Your First Year of College
You Did It! You’re Off to College! Congratulations! You have finished high school and are off to college. The sense of accomplishment is overwhelming, and you have not even graduated yet! However, beware of the pitfalls. The allure of going to college is often associated with one word—freedom. You are leaving home to be on your own. You can have all the friends you want, stay up as late as you want, and perhaps spend as much money as you want. If you keep your head, you can avoid the problems associated with college life.