eve Sleep plc Major German retail partnership agreement (1697Q)
08 September 2017 - 4:00PM
UK Regulatory
TIDMEVE
RNS Number : 1697Q
eve Sleep plc
08 September 2017
8 September 2017
eve Sleep plc ("eve" or the "Company")
Major German retail partnership agreement
eve, the e-commerce focused, direct to consumer European sleep
brand, today announces it has signed a major retail partnership
agreement (the "Agreement") with Karstadt, one of Germany's leading
department store chains, to be present in all 79 stores across
Germany.
As part of the exclusive(1) Agreement, from the 1(st) November
2017 each Karstadt store will feature an eve retail space,
showcasing the eve mattress, pillow and bed frame and allow
customers to try out the products and then purchase either in store
or online at www.evemattress.de or www.Karstadt.de.
Once launched, eve's physical brand presence will span 143
stores across the UK and Germany following the recent expansion of
the Company's Next Home agreement.
Karstadt's stores are located across the country, with multiple
stores in major cities including Berlin, Hamburg and Munich.
The Agreement forms an important part of eve's multichannel
marketing strategy to further grow brand awareness predominantly
through online-led activity supported by the development of select
retail partnerships in core and new markets.
The Agreement will help to significantly increase eve's brand
presence across Germany and further demonstrates the Company's
progress in its expansion strategy across Continental Europe.
Jas Bagniewski, Chief Executive Officer, commented:
"Today's agreement marks a major development for eve's European
brand awareness and demonstrates our commitment to growing market
share in key territories. Germany is the largest mattress market in
Europe and the quality, scale and country-wide spread of Karstadt
stores across major cities in Germany substantially increases eve's
retail footprint, exposing new customers to our exceptional sleep
products and creating an easy route to purchase."
The Company will announce its interim results for the 26-week
period ended 30 June 2017 on Wednesday 13(th) September.
(1 Karstadt are precluded from working with eve's direct to
consumer competitors)
Enquiries:
eve Sleep plc via Instinctif Partners
Jas Bagniewski, Chief
Executive Officer
Abid Ismail, Chief Financial
Officer
Peel Hunt LLP
Dan Webster
George Sellar
Max Irwin +44 (0) 20 7418 8900
Instinctif Partners
Mark Reed
Guy Scarborough +44 (0) 20 7457 2020
About eve Sleep
eve is an e-commerce focused, direct to consumer European sleep
brand, which designs and sells eve-branded mattresses and other
sleep products, including pillows, sheets and duvets.
The Company principally focuses on the design, branding,
marketing and selling of its products, with other aspects of its
operations, including manufacturing and fulfilment, being
outsourced. This model has enabled the Company to scale quickly
internationally without the requirement for significant capital
investment.
The Company's strategy is to continue to penetrate existing
territories further, expand into new markets, extend its product
range and develop its retail partnerships. Whilst the Company has
grown quickly since incorporation, its current market share of the
fragmented European sleep market (estimated to be worth GBP26bn) is
only an estimated 0.1 per cent. which the Directors believe
provides a significant opportunity for further expansion. The
Company's aim is to become the leading pan-European sleep
brand.
The CEO and co-founder of the business Jas Bagniewski,
previously worked at Rocket Internet as a Country Manager of
start-ups including Zalando and Groupon. He is supported by a
strong and experienced management team, headed by Paul Pindar as
Chairman.
In May 2017 the Company listed on the AIM market, raising GBP35m
gross proceeds to accelerate its growth strategy. The shares
floated at 101p per share, valuing the business, post new money at
c.GBP140m.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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