The Swiss jewelry company Glambou Holding AG acquired the Cologne-based jewelry company Ohh Luilu on August 1, 2022, adding another brand to its portfolio after the Antwerp jewelry label Juuls & Karats, which fits in with the company’s growth strategy. The two parties agreed not to disclose the purchase price.
The company recently carried out a capital increase and with the takeover is taking another important step towards its goal of becoming “Europe’s leading curated marketplace for trendy jewellery”.
The jewelery brand, founded in 2014 by Cologne-based Luisa Schindler, has been available on the Glambou platform for several years and has been one of the best-performing brands in recent months. Ohh Luilu has built an active and loyal fanbase of over 70,000 Instagram followers over the past few years.
“Ohh Luilu is an up and coming brand that fits perfectly with Glambou. Not only the offer convinced us, but also the team around Luisa Schindler, the initiative way of working and the refreshing culture of Ohh Luilu. We are very much looking forward to an even closer cooperation,” commented Bernd Stadlwieser, Delegate of the Board of Directors of Glambou Holding AG, in a statement.
advantages on both sides
The takeover has advantages for both sides: Glambou’s retail presence at various locations throughout the DACH region opens up new sales opportunities for Ohh Luilu, while the acquisition of the Glambou Group enables faster and more profitable growth.
There are also various synergy effects in the operational and technical areas, in purchasing and in merchandising, from which Glambou expects “significant increases in efficiency”.
Luisa Schindler will remain the lead and creative director of Ohh Luilu to ensure the brand maintains its identity and Schindler remains the face for the community.
“Over the last few years we have built our popular collection, established organizational structures and processes and created a loyal community. We are very happy to be able to count on the support of the Glambou team from now on and thus have even more time for creativity and our customers,” explained Schindler.
While Glambou was already profitable in the Swiss market in 2021, the company, which entered the German market at the beginning of 2019, expects to reach this milestone for the German market in 2023. In addition to organic growth, the continuous evaluation and acquisition of suitable partners is one of the most important drivers of the growth strategy. The takeover of Ohh Luilu is the second transaction in a short period of time, following Juuls & Karats in June of this year.