On Wednesday, Karstadt and Signa said they acquired an over 70 percent interest in Hood, which was founded in 2000 by Ryan Hood, who will retain the remaining shares. The platform currently serves 7 million customers, offering over 5 million items in a wide range of categories including electronics, apparel, automotive, beauty and books from both private and commercial partners.
This latest acquisition amps up Karstadt and Signa’s multichannel interests, which also include the online outlet, dress-for-less and the bike and outdoor e-commerce players Internetstores, Tennis Point, Outfitter and Probikeshop, respectively.
It is also central to Karstadt’s “Marketplace of Tomorrow” strategy, which aims to develop the department store into an on and offline marketplace. Indeed, the takeover of Hood.de is being executed under Karstadt Marktplatz GmbH, a newly established joint venture between Karstadt and Signa Retail.
“With the takeover of Hood.de, we are consciously and deliberately setting ourselves apart from the competition, and taking the next major step toward an integrated omnichannel strategy and mastery of the digital marketplace,” stated Stephan Fanderl, managing director of Karstadt and Signa Retail. “In future, we shall combine the strengths of 79 department stores [in Germany] with an already successful digital platform, bringing together thousands of providers.”