Paladino Capital Acquires Zoe Strollers for an Undisclosed Sum
Paladino Capital acquired Zoe Strollers for an undisclosed sum, proving that the DTC channel can build successful baby products quickly.
FREMONT, CA: Global Wired Advisors announces that Paladino Capital acquires Charlotte-based Zoe Strollers for an undisclosed amount. Zoe was established in 2015 in Charlotte by baby product executive Rob Conley and rapidly became the earliest direct to consumer juvenile product brands in the market. Conley had spent decades delivering baby products businesses throughout the world, which followed the traditional retail structure and distribution channels. However, Rob saw the ability to sell strollers direct-to-consumer through a specialized e-commerce website. Over the last few years, he has grown the company to become known throughout the world for their highly innovative, lightweight stroller designs, including creating the world's lightest double, triple and quadruple strollers. As they expanded the business, they added feeding and sleep products and a number of accessories to meet the particular demands of every parent, grandparent, and caregiver. It was an incredible experience growing and developing Zoe from the ground up.
The e-commerce industry has seen years of growth since the pandemic started. Americans spent about $86 billion online in the first six months of 2020 compared to 2019. The baby products sector reported a 50 percent increase in online sales since March. Despite Amazon's extraordinary growth, smaller DTC companies expanded 24. Three percent during 2020 and have estimated about $17.75 billion of e-commerce sales.
Jason Somerville, the Managing Partner at Global Wired Advisors and the sell-side advisor to Zoe throughout the sale, commented Direct to consumer businesses are booming right now, and there has been a massive rise in demand for investors to acquire them. Juvenile and baby products lagged behind the sector trends, but the Zoe Strollers acquisition proves that, if firms focus on the DTC channel, they can build an extremely successful baby products business quickly and subsequently exit the business at a very high valuation.
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