e-trader Announces Buyout of Koodos as Miriam Lahage Passes the Helm to Miranda Grubb
The e-trader group, today announced its acquisition of the award-winning discount site, Koodos. One of the UK's leading fashion e-tailers, the site offers consumer discounts of up to 80%. The deal, involving a part cash, part share consideration for an undisclosed sum, represents the next step in the company's strategy to become the UK's leading e-commerce business focused on the fast growing clearance and overstock market.
Miriam Lahage, original CEO, will remain with the company for the interim to ensure a smooth transition as she passes over to Miranda Grubb, Managing Director of what a find and new CEO of Koodos. When asked about her next step, and considering her 20 years' experience in merchandising, team leadership, negotiation and market relationships, Miriam told us:
'I am looking at a lot of things, and have a feeling that I will be making a decision quite soon. I will definitely be looking at projects in the online fashion world...'
The company, which launched in 2006, is presently estimated to have an off price market place worth in the region of £14billion annually. With the recession causing problems for many businesses, it is clear it has had a positive impact on the venture as people shift their buying patterns towards online sites which enable them to continue shopping, yet at lower prices.
The e-trader group, which specialises in the clearance and overstock sector by offering retailers and manufacturers access to both the trade and consumer markets via one single easy-to-use online platform, was no doubt a wise choice to ensure continued success of the business. Yet the good choice gets even better, when you consider their new CEO, Miranda Grubb, comes from a site, Whatafind, which has itself built sltrong relationships with over 50 luxury homewares brands. The acquisition also adds a designer brand fashion clearance channel to the group’s already successful stockshifters which allows retailers and manufacturers to sell bulk stock to the trade and secondary market.
There is no doubt this is an incredible opportunity for e-trader, who will be buying an established brand with a huge client base and strong working relationship with over 200 fashion brands. To buy a company in such a strong position is surely the dream of many a businessman.
If e-trader can capitalise on such strengths, we expect to hear of continued growth as they leverage on Koodos' already enviable position. As for Miriam Lahage, originally from the States, we know she plans to remain in London and that she is happy with the team behind the acquisition. Now we just want to know what her next foray will be into the worlds of fashion and start-ups.
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