E Point Perfect

Menkind owner acquires gifting etailer Prezzybox


Menkind owner Gift Universe snaps up Prezzybox
// Menkind owner Gift Universe has bought Prezzybox for an undisclosed sum
// The acquisition will help Gift Universe expand into the female gifting market

Gift Universe, the parent company of gifts and gadget specialist Menkind, has acquired etailer Prezzybox.

The acquisition is for an undisclosed sum and will help Gift Universe extend its reach into the female gifting market to complement Menkind’s stronghold with male shoppers.

It follows Gift Universe’s acquisition of toys retailer Hawkin’s Bazaar in November, as the company furthers its strategy of developing specialised highly targeted offers across the gifting market.

Family-run Prezzybox was set up by Zak Edwards in 2000 with a mission “to create moments of happiness by delivering the extraordinary”. 

READ MORE: Moonpig to acquire gifting business Buyagift for £124m

Gift Universe said there will be “no significant change” to Prezzybox under its ownership and will maintain its brand name, identity, ethos and value proposition. 

Gift Universe will seek synergies in terms of buying, marketing and finance to the benefit of the Prezzybox and its customers.

Prezzybox commercial director Barney Edwards said: “We’re pleased that the business is going into Gift Universe’s capable hands and look forward to seeing it go from strength to strength in the future. As a family, we have put a huge amount of effort into building the business and we are happy to pass it on to a company that can help it achieve its potential.

“We are thankful to all the external stakeholders we have worked with and, most importantly, we would like to thank our many team members from over the years. Despite growing into a big operation from a small family business, we have always felt like one big family.”

Gift Universe CEO Paul Kraftman added: “The acquisition of Prezzybox provides further opportunity to develop and grow our offering and increase our foothold in the gifting industry, enabling us to continue to expand our customer base”.

Click here to sign up to Retail Gazette‘s free daily email newsletter


Source link >

Related posts

BREAKING: Co-op Group food boss Jo Whitfield to exit as it unveils new leadership team

Greggs opens first eco-shop to trial in-store sustainability initiatives

Marks & Spencer appoints new non-executive director

Gieves & Hawkes seeks new buyer as Hong Kong owner falls into liquidation

In pictures: Primark launches first-ever menopause range

Co-op sells petrol forecourt estate to Asda for £600 million