This marks another stage of the transaction. In March of this year WP acquired a 35% equity stake in the Domodi Group. The original plan had anticipated that the purchase of the remaining 14% stake would be possible after the end of the 2018 financial year.
– The shareholders reached the unanimous decision of accelerating the buyout. This became possible because the process of handover was completed sooner and because Adam Plona swiftly acclimated to his role as CEO of the Domodi Group – explains Jacek Świderski, CEO of WP Holding SA.
The 14% minority stake was acquired for PLN 33.4 million. Wirtualna Polska has thereby become Domodi’s sole owner.
– Domodi, Allani and Homebook are strong brands forming one of the pillars in WP’s e-commerce corporate portfolio. From now we will be able to integrate fully with WP and mutually tap into one another’s know-how for the purpose of growing both groups. We have ambitious and exciting goals and the market is growing rapidly – says Adam Plona, CEO of Domodi.
– We have come to appreciate Wirtualna Polska as a rock-solid business partner. The equity stakes that were acquired previously afforded the group the opportunity to develop constantly, while retaining its operational independence. That is why I believe that Domodi is in great hands – says Krzysztof Wierzbicki, vice-president and one of Domodi’s founders.
The Domodi Group is made up of three leading marketplaces in the Polish Internet in the fashion, house and interior design categories. Domodi.pl and Allani.pl are the two largest fashion search engines in Poland. They bring together in a single venue the offers of nearly half a thousand stores and they give users the ability to find an assortment numbering several thousand branded products. They attract people who are passionate about fashion and love trends. Homebook.pl is a modern platform for fans and professionals who are active in internal design. It offers its users the ability to search through hundreds of thousands of products from several hundred stores operating in the house and interior category. It also contains a highly-extensive inspirational part (photos of interior arrangements, advice, trends and a database of experts in the industry).