Coolblue considers IPO
Dutch omnichannel retailer Coolblue is considering an initial public offering. HAL, which currently has a 49 percent interest in Coolblue, has confirmed the IPO consideration. It’s expected the IPO may take place this year.
Of course, this depends on conditions in the financial markets and other factors. HAL confirmed the IPO consideration just a day after Coolblue reported revenues of approximately 2 billion euros and an unaudited EBITDA of 114 million euros. This is 66 million euros more than in the year before.
Coolblue generated a turnover of €2 billion in 2020.
A lot happened at Coolblue last year. In February, the company suddenly stopped its affiliate marketing program. At first, they didn’t give an explanation, but after some questions in the media, they said they expected delivery problems from China. That’s why they stopped many of its marketing activities; they wanted to slow down sales and to completely fill its stock first.
Expansion of store and bicycle network
The omnichannel retailer, founded in 1999, also opened stores in the Netherlands (Leiden) and Belgium (Hasselt) and even a flagship store in Brussels. Additionally, the company expanded its bicycle network: some orders are now being delivered to customers by bike in over 20 cities.
Investing in new propositions
In 2020, the Dutch company also invested heavily in new propositions. In addition to solar panels and charging stations, customers can now also contact Coolblue for the supply of energy, generated by Dutch solar panels and windmills, and CO2-compensated gas.
Expansion to Germany
In July of 2020, Coolblue has set the first steps for expanding to Germany. In the Düsseldorf area, it started with its own delivery network, installation service, bike couriers, and physical stores. Further expansion across Germany is the next step.
In November, Coolblue introduced the ‘Thuiswerkwinkel’, a dedicated part on their website for companies looking to help their employees work from home.
Plans for 2021
CEO Pieter Zwart is confident 2021 will be the best year ever for his company. “We are going to open new stores, invest in the warehouse of the future, and continue growing with our charging stations, solar panels, and Coolblue Energy. We also want to open even more ‘work from home’ shops and of course make as many customers as possible happy, also in Germany.”