Online Design Platform Decovry acquires Germany-based Monoqi and becomes European leading marketplace for hand-picked design.
GENT, January 22, 2020 – Belgian online design and lifestyle platform Decovry acquires Berlin-based Monoqi, becoming Europe’s largest player for online flash sales of design, lifestyle items and gadgets. After the acquisition, Decovry will more than double its number of members, bringing its worldwide membership number to 5 million. With this major step, Decovry believes it will double its overall revenue from international sales in 2020. Decovry, already a leading player in Belgium, the Netherlands and France, will – with the launch – now continue its expansion in Germany and the UK.
After the acquisition, Decovry plans to phase out the Monoqi brand and integrate it into the Decovry brand. “It’s an incredible opportunity to dive into the German market. The Germans have a deep-rooted passion for innovative design and lifestyle products, and we believe we can accommodate their needs for great design deals and daily inspiration even better than before,” says Steven Coppens, CEO of Decovry. “Everyone seeking for design, great deals and daily inspiration will now only have one destination, Decovry.com.”
According to Carole Meert, founder of Decovry: “This acquisition allows us to build an even better discovery experience for our fans and design lovers. Monoqi had an outstanding scouting team and established working partnerships with over 5,000 designers. We’re thrilled to work with those designers and to feature their new products on our site. We share the same passion for new products and hand-picked design and are happy to bring the original experience back to the Monoqi community.”
The acquisition will enable Decovry to accelerate the development of its future proof e-commerce platform which helps emerging designers to connect directly with consumers. Emerging designer brands typically have specific needs that are not being addressed by e-commerce platforms such as Amazon or Rakuten. Therefore, these brands are proactively looking for a different go-to-market. Decovry is committed to be the best platform for those emerging design brands. With over 10,000 emerging designers and a community of 5 million design lovers, the Decovry platform is well positioned to become the leading marketplace for emerging designer brands.
The transaction is subject to final closing conditions. No further financial details will be disclosed about this transaction.
Founded in 2011, Monoqi is a Berlin-based e-commerce platform focussing on limited edition and hard-to-find design products which the company made available to their members for a short time. The company raised over € 25 million in funding.
In 2011, Decovry was launched as an online members-only inspiration platform with daily sales of design and lifestyle items from surprising designers. Next to short time sales offered with exclusive discounts, the platform showcases an elaborate collection with more than 20,000 items – from furniture to gifts – always online. From 2020, Decovry is the largest online destination for design, gadgets and lifestyles items in Europe with 5 million members.
Further Information and Image: https://www.decovry.com