Decovry is taking over its German competitor Monoqi. Just like Decovry, this Berlin platform is a bargain site for design and home products. The takeover should double the Belgian provider’s turnover.
A range of 5 million members
Decovry expects to more than double its international sales with the acquisition of Monoqi, the German rival of the Belgian flash sales provider in the design and lifestyle area. No financial details about the transaction have been disclosed, but Decovry did announce it would increase its membership to 5 million.
Until now, Monoqi was "the biggest player on the European market", but its brand name will disappear from the market after the acquisition. The company will be integrated into Decovry. With the takeover, the Belgian design platform is also taking its first steps on the German and British markets. By their own account, the Ghent company already had a leading position in Belgium, the Netherlands and France.
"We think it’s an incredible opportunity to dive into the German market. The German public has a deep-rooted passion for innovative design and lifestyle products," says CEO Steven Coppens. However, Decovry is not only buying the German company for its customer base in the slightest. "Monoqi had an excellent scouting team and built a relationship with more than 5,000 designers. We look forward to picking up these collaborations and launching their new products on our site," adds founder Carole Meert.