Following thursday's transaction WP will have an 86% equity stake in Domodi. Until now, the Group has held a controlling stake, and the original plan called for purchasing minority interests in two equal transactions of 24.5% each.
We are interested in taking a higher percentage of the results of Domodi, Homebook and Allani because we believe in the unique talents of the people who work there and in their further growth. We are impressed with the success the entire team has delivered and its entrepreneurial organizational culture – says Jacek Świderski, CEO of Wirtualna Polska.
The purchase of another equity stake in the Domodi Group is the next step in our strategy of building a portfolio of e-commerce companies in the Wirtualna Polska Group. Domodi and Allani are the two largest Polish marketplaces in the fashion segment that are delivering continued rapid growth. Homebook, the leader in the design and interior decoration segment that is growing at even faster pace complements them. We are very satisfied with these investments – adds Grzegorz Kruk, VP of Corporate Development in Wirtualna Polska.
WP also has the right to acquire the remaining 14% equity stake in Domodi in the next 10 years, though no sooner than after the end of the 2018 financial year.
The Domodi Group consists of three leading marketplaces in the Polish internet in the fashion and home and interior category. Domodi.pl and Allani.pl are the two largest fashion search engines in Poland that aggregate the offering of nearly five hundred shops and give users the opportunity to find an assortment of several thousand products of various brands in a single venue. They attract people who are passionate about fashion and trend lovers. Homebook.pl is a modern platform for interior design professionals and enthusiasts. It offers its users the ability to look for hundreds of thousands of products in several hundred home and interior shops. It also includes a very extensive inspirational section (photos of interior arrangements, advice, trends and a base of experts in the industry).