In a bid to increase the breadth of its global offering and accelerate its growth, KIDE recently announced its agreement to acquire Bon Mignon. The acquisition will allow KIDE to reinforce its supplier catalogue of exclusive infant and children’s fashion and broaden its global appeal to increasingly discerning parents.
KIDE is focused on creating a highly personalized, mobile-first, global shopping experience for time-strapped parents who are looking for the best fashion alternatives for their kids. By combining a seamless web and mobile app shopping experience with the power of machine learning, KIDE allows customers to swipe and discover the best curated designers in baby and kid's fashion that best fits their preferences. All the items and designers within KIDE's community are carefully curated to provide its customers with a truly unique and exclusive shopping experience.
Having launched its operations in April 2016, the acquisition of Bon Mignon will allow KIDE to expand its community to over 80 independent brands and with over 70% of current sales being from outside the Portuguese market.
Stephan Morais, Executive Director of Caixa Capital stated that “this transaction is a clear sign of the increased maturity of the Portuguese startup ecosystem and will enable KIDE to strengthen its competitive position in a bid to expand in the global market”.
Nuno Pinto, CEO of KIDE, stated that “KIDE’s recent acquisition of Bon Mignon, with Caixa Capital’s support, is a key step in our strategy to become the market leader in mobile ecommerce for kid’s fashion. We will now focus on growing sales and expanding globally”.