Acquisition of EOD Groundies
Weltbild D2C Group acquires barefoot shoe specialist EOD and shoe brand Groundies
- Acquisition of the Freiburg shoe brand effective as of July 1st, 2023 – integration of the Groundies brand under the Weltbild D2C Group umbrella
- Christian Sailer, CEO of the Weltbild D2C Group, talks about the investments made in the megatrend of sustainability and health: “EOD Groundies, a young company, has developed unique and innovative products that are a perfect fit for our portfolio.”
- Dr. Dirk Pehl and Dr. Jürgen Erbe from Schultze & Braun say: “Groundies brand barefoot shoes are an excellent complement to the extensive range of lifestyle products the Weltbild D2C Group already offers its customers. The Weltbild D2C Group made clear in discussions that they recognize the potential of EOD and the Groundies brand.”
Augsburg/Freiburg, 7/5/2023. – On July 1st, 2023, the Weltbild D2C Group acquired Freiburg barefoot shoe specialist EOD GmbH and barefoot shoe brand Groundies as part of its growth strategy. Groundies is one of Europe’s fastest-growing barefoot shoe brands, and has a particularly strong online presence. In recent years, the company has generated around 20 million euros in revenue annually.
Investment in the megatrends of sustainability and health
Christian Sailer, CEO of the Weltbild D2C Group holding company: “The megatrend towards better health, sustainability and more sensible fashion is one of the biggest social trends today. The young company EOD Groundies has developed unique and innovative products that fit in perfectly with our portfolio. High-quality and sustainable shoes from the Groundies brand are a great complement to our current range of services, in view of these major social trends.”
Groundies, and its barefoot shoes produced from sustainable materials, some of them vegan, are part of this global trend towards consuming resources carefully. In the future, the barefoot brand will be operated under the umbrella of the strong Weltbild D2C Group, which has over ten million customers. Groundies / EOD stands out for its experience in developing brands and brand shops, and initially started in the technology area. In recent years, the Freiburg company has specialized in barefoot shoes after launching its own brand Groundies, winning the Usability Award for the brand in 2020. With three different shoe fits for beginners, barefoot classics and barefoot enthusiasts, Groundies’ product range appeals to all customer segments and preferences.
A forward-thinking solution for Groundies barefoot shoes
Dr. Dirk Pehl from Schultze & Braun, insolvency administrator for EOD, and his colleague Dr. Jürgen Erbe, who worked together to negotiate the restructuring solution for the barefoot shoe company, are proud of the results: “Groundies brand barefoot shoes are an excellent complement to the extensive range of lifestyle products the Weltbild D2C Group already offers its customers. The Weltbild D2C Group made clear in discussions that they recognize the potential of EOD and the Groundies brand. Weltbild wants to build on this potential and continue developing the brand. Because of this, we think the acquisition represents an excellent future prospect for EOD” the two restructuring experts conclude..
Christian Sailer underscores the growth opportunities that the acquisition brings with it: “Groundies appeals to a (global) target audience including people of every age, generating the majority of its revenues online. That model fits well with our approach, because we are pursuing a growth strategy in e-commerce. We are looking forward to collaborating with the team.” Online sales will be expanded further in the future, benefiting from the Group’s broad customer reach.
Restructuring experts Dr. Pehl and Dr. Erbe were able to continue business operations of barefoot shoe specialist EOD in full after the motion for insolvency was filed in late March 2023, stabilizing business operations. At the same time, they began searching for potential investors and holding discussions with interested stakeholders. “At the end of negotiations, the Weltbild D2C Group’s offer stood out as the best concept. It not only secures the future of the Groundies brand, but also some of the jobs in Freiburg as well” says EOD insolvency administrator Dr. Pehl. The stores in Freiburg, Heidelberg, Cologne, Düsseldorf, Leipzig and Vienna will be closed.
Goetz Herzog founded EOD in 2007. In 2018, the multichannel company moved into a new Headquarters in Freiburg im Breisgau. EOD develops and distributes Groundies barefoot shoes in
194 countries via its own online shop or shopping platforms. EOD generates an annual turnover of around 20 million Euro.
Eva Großkinsky, Leitung Unternehmenskommunikation
Mail: Eva.firstname.lastname@example.org; TEL +49 821 7004 5555 / Mobil +49 176 1001 5055 /
Schultze & Braun
Pressesprecher: Ingo Schorlemmer
Mail: ISchorlemmer@schultze-braun.de, TEL: 07841/708-128