Utrecht-based fonQ, an online shop that helps users furnish their homes, announced on Wednesday, February 6, that it has acquired Amsterdam-based Naduvi to strengthen two established Home & Living brands.
Naduvi: Outlet for interior items
Founded by Itai Gross, NADUVI is an online home and living outlet that offers over 250 brands and a mixture of over 25,000 products, with discounts ranging from 30 per cent to 80 per cent. The platform enables brands to sell and deliver directly to consumers.
The combined scale and competencies will bring more focus to a distinctive assortment and customer journey in Home & Living. Both brands will continue to exist, each with its positioning.
As a part of the acquisition, Itai Gross is appointed as CEO, succeeding Jeremiah Albinus, who has held this role for nearly four years and is passing on the baton.
“fonQ is a beautiful brand with a strong proposition. With our combined scale, and the competencies and technology that NADUVI brings, we can commercially strengthen our position. I look forward to further building on the foundation that fonQ has laid over the past years with our teams, suppliers, and partners,” says Gross.
As the founder of NADUVI, he has developed a strong infrastructure that enables direct delivery to consumers without needing a warehouse. Previously, he was a co-founder and co-CEO of Westwing Benelux.
“After 16.5 years at fonQ, where I’ve transitioned from an intern to the CEO and built the brand, it feels like the right moment to pass the baton and allow someone with a fresh perspective to look at the company. In discussions with NADUVI, I saw a strong successor with the right background in Itai. I’m excited about the next challenge that lies ahead, but after a few intense years, I’m first taking some time for myself,” explains Albinus.
Both Jeremiah and Itai are and remain shareholders of the combined entity.
Ad Scheepbouwer, Chairman of the Board of Directors: “We are in a challenging market, where fonQ needs to remain competitively strong. This acquisition ensures that. We, as the Board of Directors, have confidence that the competencies of Itai and the NADUVI team will strengthen the company. We respect Jeremiah’s decision and want to thank him for his dedication and great cooperation over the years. We wish him all the success in the future.”
Read the orginal article: https://siliconcanals.com/news/startups/amsterdams-naduvi-acquired-by-fonq/
