France's Spartoo grows shoe brand stable with GBB acquisition
On June 2, the Beauvais chamber of commerce in France announced the approval of Spartoo's offer to takeover Kindy's children's shoes division and the GBB brand. The move is a first for the French online shoe retailer, which will acquire both the kid's shoe brand and its manufacturing.
With the buy, Spartoo hopes to gain expertise specific to the children's footwear segment and will take on 28 of the 45 production employees based at GBB's Andrezé site in Maine-et-Loire, France. As well as conserving and developing the GBB brand, the acquisition will enable Spartoo to strengthen its brand portfolio, which has grown significantly since launching its first three labels -- Betty London, Fericelli and Moony Mood -- in 2014.
Founded in 2006, the e-shop boasts ten company-owned brands and sells online more than 4,000 other shoe labels, covering the entire footwear market to meet the most diverse client tastes.
"We now have Citrouille et Compangie (children's), Carlingtion (formal), So Size (plus size), Botd (basics), Dream in Green (eco) and Yurban (street)," explained CEO, Boris Saragaglia to FashionNetwork.com.
"To develop products ourselves, which are made in Europe and in ashort turnaround, evidently has an impact on our margins. We have a real desire to retain customers, offering them the best price to quality ratio."
Sales of Spartoo's stablemate brands increased 30% in the last twelve months. The Grenoble-based company is now looking for these same labels to represent between 15-20% of its total global revenues by 2020. For this to happen, Spartoo will continue to acquire more footwear brands, especially those with production in France.
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