Eobuwie.pl will obtain PLN 500 million from SoftBank Vision Fund 2
The CCC Group has signed an agreement with SoftBank Vision Fund 2[1], under which it will invest PLN 500 million in eobuwie.pl S.A. - one of the leading online footwear platforms and clothing in Central and Eastern Europe. The acquired capital will be used to accelerate the development of eobuwie.pl, including international expansion.
The long-term goal of eobuwie.pl is to strengthen the position of the European leader e-commerce in the footwear and clothing segment. The partnership with SoftBank will support the Company's plans regarding further expansion in new markets, launching modern logistics centers outside Poland and developing new services, such as marketplace. The investment in eobuwie.pl confirms its strong position on the e-commerce market and the potential for future growth.
In accordance with the terms of the contract signed with the CCC Group, SoftBank will invest in eobuwie.pl by taking up convertible bonds. They will be converted into eobuwie.pl shares at the moment or before the Company's stock exchange debut, which is planned in the next 12-24 months.
As part of the cooperation, Karol Niewiadomski, Investment Director at SoftBank Investment Advisers will join the Supervisory Board of eobuwie.pl.
The transaction will ensure the appropriate level of financing for the eobuwie.pl business plan, allowing for the acceleration of expansion and strengthening the company's foundations. At the same time, it is concluded by the previously communicated process of rebuilding and strengthening the ownership structure of eobuwie.pl, preceding the IPO of the company.
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Eobuwie.pl S.A. is the market leader in the sale of footwear and accessories online in Central and Eastern Europe, offering over 170 thousand. products from over 580 brands. The company currently operates on 17 European markets. He is also successfully developing his own e-commerce with premium fashion - Modivo.
CCC S.A. is one of the largest European retail companies producing footwear and the majority shareholder of eobuwie.pl. The group has over 80 e-commerce platforms and 1,000 stores in 29 countries under the brands CCC, eobuwie.pl, Modivo, HalfPrice, DeeZee. CCC S.A. employs nearly 15,000 people and sells over 50 million pairs of shoes annually. The company has been listed on the Warsaw Stock Exchange since 2004.
[1]As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.
