Paris-based marketing agency Ykone has expanded its presence in Germany. On Wednesday, the company announced the acquisition of a majority stake in Munich-based Cover Communications.
The two agencies specializing in influencer marketing have “already worked together on several successful campaigns,” said Ykone. The takeover that has now taken place is “the natural continuation of a long-standing relationship between the founders of Ykone and Cover”. For the Paris-based company, the acquisition is another important step on the way to international expansion: Last year, it took over the Italian agency MB New Media Agency.
Cover Communications was founded in 2015 by Anne Höweler. The agency has a “strong focus on fashion, beauty and lifestyle brands” and has already worked with numerous well-known companies, explained the new majority owner. After the takeover, Höweler will remain CEO of the company, which will operate under the new name Ykone Cover, the company announced. Both agencies would now “join their forces in Germany to offer services in the areas of influencer marketing, content production, talent management and technology”.
Anne Höweler explained the background to the transaction: “After 10 years of existence, Cover came to a point where merging with an international market leader was a great opportunity to offer our customers, influencers and teams more services and opportunities. We share common values with Ykone and our passion for social media and creativity,” she said in a statement.