Amsterdam, 31 January 2014
iBOOD, Europe's biggest one-day deal platform, has entered into a strategic partnership with international retailing company METRO GROUP in order to accelerate its growth and exchange know-how between the companies. iBOOD intends to especially benefit from METRO’s international footprint with sales brands operating over 2.200 stores in 32 countries: METRO GROUP will share its buying competence and flexible overstock management as well as financial power and professional overhead processes with iBOOD, supporting iBOOD’s goal to stay the best and most exciting deal platform in Europe. METRO GROUP, on the other hand, will participate in iBOOD’s extensive know-how and experience in online community building. iBOOD has been awarded the best and most popular ecommerce store in the Benelux for 5 consecutive years. The partnership with METRO GROUP will enable iBOOD to unlock attractive growth potential and expand from its current primary markets in the Benelux, Germany and Poland.
iBOOD offers its customers discounted daily deals in electronics, health & beauty and home & living luxury products. Customers get pre-sale advice from manufacturers and fellow customers through the community product forum. The iBOOD concept will be bolstered by METRO’s extensive network of sales brands, including electronics retailers Media Markt, Saturn and Redcoon as well as wholesaler METRO Cash & Carry, Real hypermarkets and Galeria Kaufhof department stores. The partnership will offer multiple new shopping benefits to both online and traditional retail customers by redesigning the overall social shopping experience.
Pieter Haas, METRO AG board member, responsible for Business Innovation, says: “One strategic pillar of our Business Innovation approach is investments in industry innovators such as iBOOD. Our investments are set to be of mutual benefit for both partners in order to define future models of retailing. In line with our investment strategy “Money and More”, we also bring in our strengths such as strong brands, a large store network, high customer frequency and strong buying expertise. In the collaboration with iBOOD we can strongly benefit from their knowledge of building strong online customer communities. iBOOD has shown significant growth rates and we are happy to partner with an innovative and successful partner as iBOOD.”
iBOOD-CEO Joran Prinsen says: “We are very pleased having METRO GROUP as a shareholder and strategic partner. We expect the partnership to accelerate iBOOD’s growth in among others the Benelux and the German speaking markets, benefiting from METRO’s global reach and supplier relationships. This should further boost the size of the loyal iBOOD community and allow us to increase the number of verticals as well as the range of products we offer on a daily basis. We are truly excited about iBOOD’s future which is looking even brighter than before with the METRO GROUP as our strategic partner.”