The Mannheim online retailer for socks and underwear, Snocks, took over the Berlin online shop for period underwear Femtis four weeks ago. This announces Snocks as part of a press release on the current status of taking over Oceansapart. In November 2024, Snocks bought the insolvent Rise Up Fashion GmbH, the company behind the sports clothing brand Oceansapart.
Despite around ten million euros in sales compared to the original annual planning, Snocks co-founder Johannes Kliesch is positive about the purchase of Oceansapart. Kliesch: “Buying Oceansapart was the absolutely right decision.”
In order to get the insolvent activewear provider back on track, Snocks has implemented various measures. Personnel costs were reduced and around 20 of the former 100 employees were brought to the company in Mannheim – to bring together processes, structures and culture at an early stage.
At the time of the takeover, the inventory was “significantly oversized” at nine million euros, said Kliesch. Through targeted measures, the inventory was reduced to 5.5 million euros. The target size is three million euros. Synergies and improvements were also implemented in the online shop, and marketing and price strategy were adapted.
The takeover of both brands is related to the strategic expansion of Snocks to the “House of Brands”. The two purchased brands are to be reorganized through clear brand positioning, operative synergies and data -driven optimizations.