The trading group Weltbild D2C Group has expanded its portfolio to include a shoe supplier. On Wednesday, the e-commerce specialist announced the takeover of Freiburg im Breisgau-based EOD GmbH, which owns the barefoot shoe brand Groundies. The company recently generated annual sales of around 20 million euros, but had to file for bankruptcy at the end of March.
Insolvency administrator Dirk Pehl welcomed the takeover: “At the end of the negotiations, the offer from Weltbild D2C Group turned out to be the best concept. It not only secures the future of the Groundies brand, but also some of the jobs in Freiburg,” he said in a statement. However, the Groundies stores in Freiburg, Heidelberg, Cologne, Düsseldorf, Leipzig and Vienna would be closed.
Christian Sailer, CEO of the Weltbild D2C Group, explained the reasons for the acquisition: “The mega trend towards more health, sustainability and meaningful fashion is one of the major social trends. The young company EOD Groundies has developed unique and innovative products that fit perfectly with our portfolio,” he emphasized. “The high-quality and sustainable shoes from the Groundies brand complement our range of products very well with a view to these major social trends.”