Kronos Care, a member of LVMH’s “La Maison des Startups,” was acquired by post-purchase engagement solution provider Narvar to help the company expand its reach across Europe.
Kronos Care is a Paris-based firm that “enables retailers and brands to increase loyalty through branded notification experiences,” the companies noted adding that the start-up will continue operations “as part of Narvar’s Southern Europe team in Paris.”
Terms of the deal were not disclosed.
“The acquisition comes as Narvar continues to build the broader European market for post-purchase customer experience and invest in its global footprint,” Narvar said in a statement. “Kronos Care’s retail and luxury focus and Paris-based team complement Narvar’s growth strategy in Southern Europe. In addition, the acquisition offers accelerated growth for Narvar’s broader European goals and longer-term talent advantages.”
Kronos Care founders Antoine d’Espalungue and Guillaume L’Hostis said in a joint statement that they have been “committed to elevating the post-purchase experience for luxury and beauty brands since founding Kronos Care, and are proud of the traction we have achieved as a result — winning the support of LVMH and building a product that supports 40 carriers and seven languages.”
A spokeswoman said Kronos Care’s client list in France includes brands such as Etam, Intersport, Camaieu and L’Oréal as well as LVMH brands.
Amit Sharma, founder and chief executive officer of Narvar, said from the company’s earliest days, “we have had a vision to simplify the lives of consumers around the world with both global scale and a localized approach.”
“The acquisition of Kronos Care aligns with this vision as we continue to focus strategic investment in Europe, building on a year of successful growth in the market,” Sharma explained. “We are impressed by the work that Kronos Care has done to fill the post-purchase experience need for retailers in France, and look forward to better serving our customer relationships in the region.”
Narvar said over the past year or so, it has made heavy investments in the European market, tripling the company’s staff, “not only in its office in London, but also adding regional teams in Munich and in Paris,” the company said adding that it has experienced revenue growth of more than 300 percent. This year, Narvar said it intends to “more than double resources.”