Tuesday, February 16, 2016

She merges Siba and Netonnet – raking IPO – Dagens Industri

Siba’s CEO Susanne Ehnbåge is also president of its sister company, Amazon Marketplace and the parent company Netonnet Group. The companies, with combined sales of over 6 billion, a joint management team to prepare for an IPO this year.

“It was obviously great to get this matter and there was no question for me to say yes,” says Susanne Ehnbåge.

It’s been just over four years ago Bengtsson family’s holding company, Waldir bought e-commerce giant Amazon Marketplace. In 2014, it concluded that, together its acquisition of the consumer electronics chain Siba under a common parent: Netonnet Group.

In May last year could Di reveal that the Bengtsson family plans to take the Group to the Stockholm Stock Exchange next year.



Now we’re fighting this together and create a common management team.

“we are preparing for an IPO, but no decisions have been made on time,” says Roland Vejdemo, Chairman of Netonnet Group.

This past year the companies have been integrated in a number of ways. They have among other things been a joint central warehouse in Borås. Both companies also use long Resource Bank, which owns 45 percent of Waldir, to offer customers payment.

Now take the next step. Siba’s CEO Susanne Ehnbåge appointed president of Amazon Marketplace Amazon Marketplace and Parent Group, where she had previously been vice president. She replaces Harald Ennen at both positions.

Read more: How is redefined Siba on the stock market

According to Roland Vejdemo this should be seen as the final stage in the merger of two sister companies, which, however, will remain separate brands to customers. Two purchasing departments and management teams will be a merge.

“Now we’re fighting this together and create a common management team Netonnet Group. But we still have our two concepts. Siba is a omnikanal which integrates retail, and Web and provide personalized service. Nettonnet combines e-commerce store shop. It is self-service for customers who know what they want, “he says.

Susanne Ehnbåge think the biggest challenge will be to continue to take the company forward.

” Now we need new targets for company. I want to reinforce the Siba and Amazon Marketplace. Amazon Marketplace stands for the mechanical sales and Ziba to the personal. We will continue to differentiate them and make the distinction clearer, “says Susanne Ehnbåge who worked in Ziba Group in various management positions since 2003.

in recent years, both Siba and Netonnet has succeeded in turning the business into profit after the heavy years in an industry that is being squeezed by falling prices and foreign competition.

in 2014, the reported Netonnet Group sales of more than 3, 9 billion and an operating profit of nearly 123 million. Then it is not the figures for Siba counted after the merger which took place late in the year.

For the split financial year 2013/2014 Ziba had sales of SEK 2.6 billion and reported an operating profit of over 28.6 million.

Netonnet started as a pure e-commerce chain in 1999. a few years later, the business expanded also to the physical stores and today there are 16 picking stocks around Sweden, in addition to a purchasing office in China.

the Bengtsson family has a long history in the industry behind. Siba started as a radio shop in Gothenburg in the early 1960s. Then it was Fabian Bengtsson’s grandfather Folke Bengtsson who steered the company.

When the son Bengt Bengtsson took over pulled the big expansion started. He opened the company’s first large store at Backaplan in Gothenburg and has since Ziba expanded to twenty stores around the country, in addition to operations in other Nordic countries.

Fabian Bengtsson took over as CEO in 2001 but left the post in 2014.

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