Footshop and Crowdberry continue their growth partnership
Footshop announced the acquisition of its competitor Queens at the beginning of 2021 – a deal made possible thanks in part to funding obtained from a Crowdberry investment campaign in 2020. Now, investors have another opportunity to invest in the athletic-footwear giant during its next growth phase.
This is the first time ever that a company from the Crowdberry portfolio has made such a significant acquisition. Via our platform last year, Footshop raised EUR 3 million, which, among other things, it used to purchase its main competitor, Queens. The deal resulted in the formation of one of the biggest players in the streetwear segment in the Czech Republic and Slovakia, with revenues in excess of CZK 1 billion.
Over the course of several months following the investment, investors could monitor the impact of their financing literally in real time. For example, Footshop became the first store in Central Europe to get the opportunity to design sneakers in cooperation with Adidas. The company’s new visual identity was the topic of much discussion in the media. And it plans to achieve 30% growth this year, which Crowdberry investors can again play a major part in.
“Footshop’s investors have seen the direct impact of their capital on raising the value of the company. It is an interesting signal also for investors who are in the process of deciding whether to become co-owners of Footshop and, thus, also of Queens,” says Dano Gašpar, partner at Crowdberry.
This year, Footshop is also launching the FlexDOG digital project, which involves the development of a search engine used for finding limited-edition sneakers anywhere in the world. This is further evidence of the company’s international growth ambitions.
If you would like to co-own one of the fastest-growing e-commerce platforms in the streetwear segment in Central Europe, take a look at the details of the Footshop investment opportunity.