Dutch online store Coolblue has announced that it intends to raise €150M by launching an Initial Public Offering (IPO) and list its shares on Euronext Amsterdam.
Coolblue, the Netherlands’ second-largest online retailer, said the proceeds from the IPO would be used to strengthen its capital structure after considerable investments in 2020 and 2021.
Pieter Zwart, Coolblue CEO and Founder says, “I am really proud that today, we announce our intention to list our shares at Euronext Amsterdam in October. This is the logical next step in the development of Coolblue. I am really looking forward to taking this step together with everyone involved in the next couple of weeks.”
The offering is expected to take place in October 2021, subject to market conditions and other relevant considerations.
CEO and co-founder Pieter Zwart owns 51 per cent of the shares in the company while the remaining 49 per cent is owned by investor HAL.
Daphne Smit, CFO of Coolblue, says, “I am very excited that we announced our intention to list our shares at Euronext Amsterdam. The intended listing will not only provide our customers the opportunity to invest in Coolblue but will also provide the financial flexibility to fuel further growth.”
Obsessive focus on customer satisfaction
Founded by Pieter Zwart, Paul de Jong, and Bart Kuijpers in 1999, Coolblue has 14 physical stores in the Netherlands, Belgium, and Germany. The Rotterdam-based company sells consumer products in 10 categories – from Image & Sound, Telephony, Computer & Tablets, to Household & Living.
The company is driven by data and technology, measuring everything from initial customer interest to warehouse efficiency, through its highly scalable cloud-based IT platform and software stack.
Achieved €2B in turnover
In 2020, the company achieved a turnover of €2B (+ 34 per cent) and an operating result (EBITDA) of €114M, which is €66M more than the year before.
The company also rapidly expanded its bicycle network in the last few years. It claims that orders are now delivered to customers in more than 20 cities by bicycle and in a paper shipping bag.
In January, the company started selling and supplying Coolblue Energy.. For this, the retailer bought the energy company ServiceHouse.