Answear.com, one of the leading e-commerce providers of home & style, outdoor, and fashion products in the CEE countries, completed the purchase of Sneakerstudio and PRM brands. After the acquisition process, these brands completed several steps of their incorporation into Answear.com structures.
Answear.com expanded its business operations to a new segment and consumers interested in luxury and premium products. This historic marriage in the world of fashion has strengthened Answear.com’s position as a leader in the fashion e-commerce market in Central and Eastern Europe, especially in the premium sneaker and streetwear segment.
The marriage has already given birth to PRM.com. Keep scrolling down the page to learn more about this marriage in the world of fashion and its firstborn PRM.com.
The acquisition of PRM and Sneakerstudio means that Answear.com will grow and expand its business operations to new customer groups and segments. The customer groups that Answear.com will attract are Generation Z and people interested in luxury and premium products.
Also, Answear.com sees multiple collaborations based on mutual strengths, merging the unique offerings of the purchased brands with its logistics facilities, latest technologies and operational efficiency.
During the acquisition, the CEO of Answear.com, Kryzysztof Bajolek, said that every stakeholder was pleased with the decision to acquire PRM and Sneakerstudio. He said that the acquisition was a strategic decision of the General Meeting of Stakeholders, aimed at positioning Answear.com in the premium segment and luxury products direction.
On top of that, the CEO said that the purchase would allow their company to gain a competitive advantage in terms of brand communication and target group as well as the offering.
It was a perfect acquisition or marriage. Answear.com acquired the ZCP, Fashion Trends Group’s organized business part that includes PRM and Sneakerstudio websites, two stationary boutiques in Warsaw and Krakow, and brand sales, contracts and marketing departments.
Answear.com’s financial matters and management board vice president, Jacek Dziadus, supported the marriage. He said that they see several synergies in the purchase of the two brands, most importantly boosting the acquired businesses’ margins.
Dziadus said that their company is able to achieve that by maximizing Answear.com’s greater shopping power and scale of operation. Jacek added that he sees greater potential in the optimization of costs and cross-selling activities.
PRM.com is the product of the marriage between PRM and Answear.com. It’s a premium online shopping platform that connects selected designers from all parts of the globe with the street fashion world. The platform aims at individuals who feel comfortable with a combination of luxury brands and streetwear labels.
Also, people who love a distinctive style will find PRM.com a perfect match. The PRM.com concept mainly provides solutions to the urban community’s clothing problem by offering a selection of top-notch sneakers and apparel brands.