- February 2, 2021
- Posted by: Qualitas Funds
- Category: Acquisitions
We are pleased to announce the addition of LuxPlus to the Qualitas Funds II portfolio through our Danish General Partner.
LuxPlus is a Danish online retailer of beauty and personal care products. Our GP thus takes a majority stake, having acquired 65% of the company, with the remaining 35% held by its two co-founders.
The company was founded in 2013, and from the outset experienced very rapid growth, reaching DKK 28 million profit (€3.8 million) in 2020. Its business model does not seek to make margins through the sale of products, which are sold at a price very similar to their cost, but through monthly subscriptions that give its customers access to significant discounts and benefits such as free delivery of products. The company currently has more than 125,000 subscribers in 7 European countries.
Our manager, considers the acquisition of LuxPlus as a unique opportunity to establish itself in the e-commerce sector, whose growth is increasingly significant and attractive, and in particular, in the sale of beauty products where online penetration is still very low and where further growth is expected in the coming years.