STRAX: STRAX Invests in Brandvault to Target Global Online Marketplaces
STOCKHOLM, Sept. 6, 2018 /PRNewswire/ --
Global mobile accessories specialist STRAX today announces its investment in Brandvault Global Services Ltd as part of a strategic move to expand its global ecommerce reach.
Online retail is a key area of STRAX's strategic plan and the new partnership with Brandvault has been formed to capitalize on the ever-growing opportunity offered through major players in the global ecommerce marketplace. Whilst Amazon will be the initial priority, Brandvault will also work with other ecommerce leaders such as eBay. Furthermore, Brandvault will take responsibility for online customer acquisition of STRAX's proprietary and licensed brands.
STRAX has already seen early ecommerce success in this area through initial trials with T Mall and JD in China, and Amazon Japan where it now sells over 500 cases a day with its adidas licensed phone cases.
Brandvault is led by Michael Bartlett, former Commercial Director of consumer electronics distributor Kondor. Bartlett helped oversee the rapid growth of Kondor between 1999 and 2016, and brings a wealth of experience in consumer electronics, as well as a proven track record of ecommerce trading and branded portfolio growth.
Commenting on the new group, Michael Bartlett says: "I am incredibly excited to be working with STRAX and its impressive collection of leading brands. STRAX has a fantastic global footprint and high growth tier one brands, and I look forward to leading Brandvault and capitalising on the huge ecommerce opportunities."
STRAX CEO, Gudmundur Palmason, commented: "I'm excited about this online expansion as it is strategically important for STRAX to succeed in this area as it becomes an increasingly significant channel within our category. STRAX initial 10 percent ownership in Brandvault will serve as a bridge head for our online expansion."
For further information please contact Gudmundur Palmason, CEO, Strax AB, +46-8-545-01750.
For further information please contact Michael Bartlett, Managing Director, Brandvault Global Services Limited, +44-07966-209777.
About STRAX
STRAX is a market-leading global company specializing in mobile accessories and connected devices. STRAX has built a House of Brands to complement its value-added customer-specific solutions and services. STRAX House of Brands includes proprietary brands: XQISIT, GEAR4, Urbanista, THOR, avo+, FLAVR, Eule and licensed brands: adidas and bugatti. In addition STRAX represents over 40 major mobile accessory brands. STRAX sells into all key channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers and direct to consumers online. STRAX was founded in Miami and Hong Kong in 1995 and has since grown across the world. Today, STRAX has over 200 employees across 13 countries with its operational HQ and logistics center based in Germany. STRAX is listed on the Nasdaq Stockholm stock exchange.
About BRANDVAULT
BRANDVAULT is a global ecommerce company specialising in mobile accessories and connected devices. The company sells to a wide range of online global marketplaces such as Amazon and eBay. BRANDVAULT provides a range of services including enhanced content creation and online customer acquisition. BRANDVAULT was founded in the UK in 2018. For more information, please visit: www.brandvault.com
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SOURCE Strax
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