The Social Chain AG
The Social Chain AG: Social Chain AG acquires American Beauty Brand Coral and grows US business to USD 100 million
DGAP-News: The Social Chain AG
/ Key word(s): Takeover/Expansion
Media Release Social Chain AG acquires American Beauty Brand Coral and grows US business to USD 100 million
Berlin/Los Angeles, 17 February 2021. For the first time, Social Chain AG (WKN: A1YC99) is acquiring a US Direct-to-Consumer brand. The Social Commerce company has 51 percent of the shares in Coral LLC through an investment company it controls. Coral specialises in oral hygiene products and nutritional supplements made from all-natural ingredients. The calcium used comes from overseas coral concentrates, which are extracted in an EcoSafe-certified way. The products are almost exclusively sold directly to end customers via the company’s own online shops such as coralcalcium.com and other digital points of sale. The acquisition of Coral LLC strengthens the position of Social Chain AG’s Social Commerce vertical “Beauty & Healthcare” and accelerates its overall growth in the American market. Coral LLC operates a logistics centre with over 27,000 square metres of floorspace at the company’s headquarters in Carson City, Nevada, which will also be used by other Social Chain AG brands in the future. After the acquisition of Coral LLC, Social Chain AG will be able to increase its total revenue in the US business from USD 53 million in 2020 to around USD 100 million in 2021. So far, Social Chain AG has been operating in the US primarily through its own social media communities as well as through creative and tech services for social media marketing. Social Chain AG’s social media communities currently count around 41 million followers in the US. This corresponds to almost half of the company’s total of 86 million followers. The American subsidiary Social Chain Agency serves top clients such as TikTok, Zalando US und Amazon in New York and Los Angeles. The company A4D based in San Diego, California, which was acquired by Social Chain AG last year, is a US-wide specialist for digital performance marketing. Wanja S. Oberhof, CEO of Social Chain AG: “The acquisition of Coral is the next logical step in our US strategy. With our own communities and strong social media marketing resources, we have created a scalable base for our Social Commerce activities in the US. With Coral, we are adding a large logistics centre which enables a complete marketing and supply chain for our Social Commerce brands.” In 2021, Social Chain AG will also start marketing its own Social Commerce brands in the US. Lumaland, Urbanara and KoRo, for example, will be establishing marketing and sales in the US. In addition, Social Chain AG plans to acquire further Direct-to-Consumer brands in the US this year. Oberhof: “We are currently in promising negotiations. The US, with its particularly social media and e-commerce-savvy population, will be the most important market for us in the medium term.” Jake Wand, Founder & CEO: “I am thrilled to be working with Social Chain AG as a leading partner in the field of Social Commerce. Coral is a perfect fit for the product portfolio of Social Chain’s Beauty vertical. I am convinced that Coral and other of Social Chain’s Direct-to-Consumer brands will continue to expand into the American and European market.”
The following companies and brands are currently part of Social Chain AG’s US business:
Contact: Jana Walker | Press press@socialchain.com
17.02.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | The Social Chain AG |
Gormannstraße 22 | |
10119 Berlin | |
Germany | |
Phone: | +49 (0)30 208484010 |
E-mail: | contact@socialchain.com |
Internet: | www.socialchain.com |
ISIN: | DE000A1YC996 |
WKN: | A1YC99 |
Listed: | Regulated Unofficial Market in Dusseldorf |
EQS News ID: | 1168989 |
End of News | DGAP News Service |