ManoMano collects $ 355 million and wants to expand business in Germany

Do-it-yourself (DIY) is popular and became even more popular during the corona crisis.  The DIY marketplace ManoMano, which was founded in France, has been in operation since 2013 and has now raised 355 million US dollars in a financing round, according to the company.  With the resulting valuation of $ 2.6 billion, the online marketplace now also counts as a unicorn.  This refers to companies valued at at least a billion dollars.



ManoMano wants to be the "first point of contact for all projects related to home improvement, house and garden".  The six different country platforms currently reach around 50 million unique visitors per month and seven million customers across Europe.  "By offering access to a highly qualified DIY audience and a comprehensive range of category-specific services, we also want to be the preferred partner for all European retailers who want to expand their online business in our industry", hope the two co-founders Philippe de  Chanville and Christian Raisson.



Brand and more employees: This is how ManoMano wants to expand in Germany


Above all, the company wants to use the money to expand business in Germany and the corresponding marketplace.  Germany is the most important market for the founders after France, but is even set to become number one in the future, as founder Philippe de Chanville says online retailer News.  “We have a growing team of German colleagues who are specifically looking after their own market.  In order to continue our growth, we will continue to recruit new talent all over Europe - a thousand new employees by the end of 2022. ”The brand is also to be strengthened in Germany.  "Especially in the highly competitive German market with many big brands, we are investing in order to create brand awareness and brand loyalty." In 2020, TV stations were already running prime time spots, now online and radio advertising is to be added.



ManoMano wants to attract German online retailers


ManoMano relies above all on "long-term partnerships" with online retailers who want to become more independent from Amazon and Co.  “As soon as we enter into a partnership with a dealer, our aim is to create a win-win relationship.  Many of our partners are small and medium-sized companies with fewer than 20 employees, ”says Christian Raisson.  Three quarters of the dealers on manomano.de would come from Germany.  ManoMano cites the Berlin Brands Group's Electronic Star brand as an example of success: it has grown by 290 percent on all portals.



The Berlin Brands Group has come into focus primarily through the acquisition of Amazon retailers.  We have already reported on this business model in a separate article.


Comments

Post a Comment

Popular posts from this blog

Retail: Ceconomy intends to significantly expand its position in online retail

Düsseldorf  - Thanks to its booming online business, electronics retailer Ceconomy (Media Markt, Saturn) has come through the Corona crisis relatively well so far.  Now the retail giant wants to increasingly open its e-commerce platform to other retailers and build it into the largest omnichannel marketplace for consumer electronics in Europe, as it announced on Tuesday. Despite the corona-related six-week closure of the shops in the spring, sales of the largest German electronics retailer in the 2019/20 financial year ended at the end of September were only 1.8 percent below the previous year's level at 20.8 billion euros.  Because the failures in the stationary business were largely absorbed by the booming online business. Online sales rose by more than 44 percent to 4.2 billion euros and thus accounted for a good 20 percent of total sales.  The group also benefited from the pandemic-related increased demand for technical equipment for working, learning and living ...
Read more

Hugo Boss wants to massively expand online business

Fashion retailer Hugo Boss wants to increase its online sales to more than 400 million euros.  To this end, the central online shop will be opened for new markets.  Hugo Boss wants to massively expand and grow online business  The fashion retailer Hugo Boss wants to expand its online business significantly.  By 2022, online sales are to be increased from 151 million euros in 2019 to more than 400 million euros, Hugo Boss announced on Wednesday in Metzingen.  This is to be achieved both via the company's own online shop and via the concession business with partners.  "The growing importance of online business has become even clearer in 2020. Our industry is confronted with an unprecedented situation and the purchasing behavior of customers is increasingly shifting from stationary to online," explained Matthew, the manager responsible for the e-commerce business  Dean according to dpa with a view to the corona pandemic.  Hugo Boss therefore wants to...
Read more

Rewe wants to grow online business

In addition to the existing e-commerce shops for wine and animal supplies - weinfreunde.de and zooroyal.de - the retail giant is also planning an Internet offer for cosmetics, as Rewe boss Alain Caparros revealed in an interview with “Wirtschaftswoche”.  Above all, however, the company has expanded its online ordering service, rewe.de, and now delivers groceries in 70 cities.  “We have to be there, otherwise others will take over the business from us,” said Caparros, referring to Amazon.  The Rewe boss assumes that the American e-commerce giant will soon also start its Amazon Fresh grocery service in Germany: “Something will come.  We know that Amazon has looked at warehouse locations and employees are currently being recruited. "  Caparros sees new players like Amazon as a “wake-up call to invest even more and to experiment”.  But the manager also sees growth potential in stationary retail - for example in city shops for quick needs, as Rewe has developed ...
Read more