Groupe SEB Invests in StoreBound, Reinforcing Its Presence in the American Housewares Market
22 Juillet 2020 - 10:00PM
Business Wire
Regulatory News:
Groupe SEB (Paris:SK) is pleased to announce that it has
signed an agreement to take a majority stake in StoreBound, owner
of the Dash brand of Kitchenware, which has emerged as the top
choice among health-conscious consumers in America. The transaction
is expected to be completed by July 31st, 2020.
Founded in 2010, StoreBound develops housewares focused on
better living under brands including Dash, Sobro, Chef Geoffrey
Zakarian and others, and distributes its products through top-tier
US retailers off-line et on-line.
In just 8 years, StoreBound has built the largest organic social
media following in the US industry, attracting notably over
1-million Instagram followers, earned billions of marketing
impressions, and product distribution in North & South America,
Europe and Asia.
The company has launched over 200 products through a strong
omnichannel distribution model, combining offline retail,
e-commerce and social media.
StoreBound’s sales have been increasing rapidly, amounting to
over $100M in the past 12 months. Headquartered in New York City,
the company employs around 50 people. StoreBound was recognized on
the INC List of Fastest Growing Businesses for 4 consecutive years
and in the Top 100 of the Entrepreneur 360 List in 2019.
Thierry de La Tour d’Artaise, CEO of Groupe SEB, stated:
“With the investment in StoreBound, we will strengthen our presence
in the American housewares market. With its strong and innovative
business model and brands, StoreBound is very complementary to our
consumer business in the US. The company has launched over 200
products and built the largest organic social media following in
the US industry. We are pleased to welcome the StoreBound team and
founders into the Groupe SEB family.”
Evan Dash, CEO and Founder of StoreBound, stated: “After
our careers in retail, my wife, Rachel and I started StoreBound to
inspire people to enjoy healthy home cooked meals shared around the
table with loved ones. In less than 10 years, StoreBound has
emerged as the market leader for health-conscious consumers in the
US. We are proud to join Groupe SEB, a respected fellow industry
player, combining iconic brands, manufacturing capabilities and
global strength. We are looking forward to leveraging their
innovation engine to accelerate our pace of new product
introductions while strengthening our global operating
capabilities.”
Find us on… www.groupeseb.com
World reference in small domestic equipment, Groupe SEB operates
with a unique portfolio of more than 30 top brands including Tefal,
Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa,
Supor, marketed through multi-format retailing. Selling more than
360 million products a year, it deploys a long-term strategy
focused on innovation, international development, competitiveness
and service to clients. With products being present in over 150
countries, Groupe SEB generated sales of approximately €7.3 billion
in 2019 and had more than 34,000 employees worldwide.
SEB SA ■ SEB SA - N° RCS 300 349 636
RCS LYON – with a share capital of €50,307,064 –
Intracommunity VAT: FR 12300349636
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version on businesswire.com: https://www.businesswire.com/news/home/20200722005873/en/
Investor/Analyst Relations Groupe SEB Financial Communication
and Investor Relations Isabelle Posth Raphaël Hoffstetter
comfin@groupeseb.com +33 (0) 4 72 18 16 04
Media Relations Groupe SEB Corporate Communication Dept Cathy
Pianon Caroline Philips com@groupeseb.com +33 (0) 6 33 13 02 00 +33
(0) 6 49 82 28 45
Image Sept Caroline Simon Claire Doligez Isabelle Dunoyer de
Segonzac caroline.simon@image7.fr cdoligez@image7.fr
isegonzac@image7.fr +33 (0) 1 53 70 74 70
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