The Platform Group news and archive

The Platform Group raises forecast on strong Q1

The Platform Group (TPG), a software company for platform solutions, achieved first quarter gross merchandise volume of 190.6 million euros and generated sales of 107.9 million euros, a substantial increase over the prior year. The company attributed an increase in GMV and sales to the growth of the number of connected partners to 11,987 and the...

Business

The Platform Group acquires the OEGE Group

The Platform Group (TPG), a software company for platform solutions, will become the majority shareholder of the OEGE Group as of June 2024. The company, based in Lünen (North Rhine-Westphalia), exclusively serves B2B customers in ecommerce with branded goods. The products are sold via the company's own B2B shops and platform solutions with a...

Business

The Platform Group achieves sales and profit above forecast

The Platform Group said that pro forma gross merchandise volume (GMV) increased to 705 million euros compared to 2022 GMV of 591 million euros and forecasted 2023 GMV of 700 million euros. Pro forma net sales reached 440.8 million euros versus forecast of 440 million euros. The company added that adjusted EBITDA improved to 22.6 million euros...

The Platform Group increases stake in ApoNow

The Platform Group has increased its majority stake in ApoNow from 50.1 percent to 80 percent. ApoNow, based in Wetter, Ruhr, is a platform for pharmaceutical manufacturers and pharmacies in Germany, Austria and Italy. Currently, over 300 pharmaceutical manufacturers are connected to the platform, through which 41,500 pharmacies place orders and...

Business

The Platform Group acquires Hood Media

The Platform Group (TPG), a software company for platform solutions has announced the full takeover of Hood Media. Hood, the Cologne-based company, founded in 1999, is one of the 10 largest marketplaces in Germany through its Hood.de platform with more than 4,900 active dealers in over 20 product categories. Commenting on the acquisition,...

Business

The Platform Group forecasts upbeat 2024 sales and profit

The Platform Group (TPG) expects the consolidated gross merchandise volume (GMV) to increase between 760 million euros to 800 million euros in 2024. Consolidated net sales are expected to increase in the range of 460 euros to 470 million euros and consolidated adjusted EBITDA in the range of 24 euros to 28 million euros. The company said in a...

Business

The Platform Group acquires 7.6 percent stake in Mister Spex

The Platform Group has acquired a 7.6 percent stake in European omni-channel optician Mister Spex as part of a share swap. Founded in 2007, Mister Spex, with more than 7.1 million customers, is present in 10 online shops across Europe and physical retail stores. In the third quarter of 2023, the company recorded a revenue growth of 2 percent and...

Business

The Platform Group acquires 100 percent stake in German furniture company

The Platform Group is acquiring the outstanding shares of Möbelfirst, one of the leading platforms for luxury furniture in German-speaking countries. Commenting on the transaction, Dominik Benner, CEO of The Platform Group said: “Möbelfirst has developed very well as a platform, has always been profitable and now has shopping carts averaging...

Business

The Platform Group sells beauty and smartwatches categories

The Platform Group (TPG) is selling its beauty and smartwatches business categories to an undisclosed company based in Germany that specialises in online trading. The company said in a release that the transaction will be implemented as an asset deal and will be completed on January 31, 2024. “Both business areas have made losses for Fashionette...

Business

The Platform Group reports 22 percent sales growth

In the first nine months, the Platform Group (TPG) reported consolidated pro forma GMV increased by 21.6 percent to 469.3 million euros and pro forma sales increased by 22 percent to 284.5 million euros. Commenting on the trading results, Dominik Benner, CEO of TPG said: “We are very satisfied with the development in the first nine months. We...

Business

The Platform Group reports 22 percent sales growth

Business

German retailer Fashionette to merge with The Platform Group

Two German fashion businesses Fashionette and The Platform Group have finalised plans to merge their activities. Since December 2022, Wiesbaden-based The Platform Group has been the majority shareholder of Fashionette, an online luxury accessories company based in Düsseldorf. Dominik Benner, the CEO of Fashionette, said in a statement: “Merging...