Ringier: Majority stake in Mystore
Ringier is acquiring a 60 percent majority stake in the Swiss e-commerce platform Mystore. The online outlet store, based in western Switzerland, will merge with Deindeal in early 2016.
Founded in 2009 by current CEO John Krief, Mystore is a Geneva-based online outlet store specializing in the sale of branded products in the fields of fashion, accessories, shoes, perfumes, watches, travel, etc. at discount prices of up to 80 percent. Ringier will acquire a majority stake of 60 percent in Mystore as of October 15, 2015. John and Allen Krief and Alexandre Branquart continue to hold 40 percent of the share capital. In 2016, Mystore will be merged with Deindeal. CEO of the new joint company will be Benoit Henry, today CEO of Deindeal. Together, the two companies form the leading smart shopping platform in Switzerland. The three founders of Mystore remain part of the management team.
Thomas Kaiser, CEO Ringier Digital, in a statement: "Mystore is an excellent fit with Deindeal and both companies will immediately benefit from new cross-selling opportunities and important synergies in key areas." And John Krief, CEO Mystore: "Ringier has demonstrated a very substantial track record in digital and a great deal of pioneering spirit. We look forward to working with Ringier and in combination with Deindeal to take our company to the next level of development." Benoit Henry, CEO of Deindeal: "Mystore, with its great know-how in product purchasing and strong presence in French-speaking Switzerland, fits perfectly into the portfolio and guarantees both quantitative and qualitative growth."
