fonQ and NADUVI join forces. Itai Gross takes over as CEO.
Amstelveen - 6 March 2024
We are delighted to announce that fonQ and NADUVI are joining forces as of today.
This strategic acquisition by fonQ will further strengthen two established Home & Living brands. In recent years, fonQ has built a powerful Home & Living brand with a refined customer journey, while NADUVI has focused on developing a technically advanced ecosystem that allows suppliers to deliver directly to customers without the need for a warehouse. The combined scale and competencies will bring more focus to a distinctive assortment and customer journey in Home & Living. Both brands will continue to exist, each with its own positioning.
New CEO
During the acquisition, Itai Gross was appointed as CEO, succeeding Jeremiah Albinus, who has held this role for nearly four years and is passing on the baton. Itai Gross has many years of experience in the Home & Living industry. As the founder of NADUVI, he has developed a strong infrastructure that enables direct delivery to consumers without the need for a warehouse. Previously, he was a co-founder and co-CEO of Westwing Benelux.
Additional competencies
"fonQ is a beautiful brand with a strong proposition. With our combined scale, and the competencies and technology that NADUVI brings, we can commercially strengthen our position. I look forward to further building on the foundation that fonQ has laid over the past years with our teams, suppliers, and partners," says Gross.
Passing the baton
"After 16.5 years at fonQ, where I've transitioned from an intern to the CEO and built the brand, it feels like the right moment to pass the baton and allow someone with a fresh perspective to look at the company. In discussions with NADUVI, I saw in Itai a strong successor with the right background. I'm excited about the next challenge that lies ahead, but after a few intense years, I'm first taking some time for myself," explains Albinus.
Remaining competitively strong
Ad Scheepbouwer, Chairman of the Board of Directors: "We are in a challenging market, where it's important for fonQ to remain competitively strong. This acquisition ensures that. We, as the Board of Directors, have confidence that the competencies of Itai and the NADUVI team will strengthen the company. We respect Jeremiah's decision and want to thank him for his dedication and great cooperation over the years. We wish him all the success in the future."
Itai has immediately started as the CEO. Both Jeremiah and Itai are and remain shareholders of the combined entity.
fonQ
With a wide range, shopping assistance, and inspiration, fonQ is the online store that helps you furnish your home.
NADUVI
NADUVI is dedicated to developing a state-of-the-art home & living ecosystem that enables direct delivery of furniture and home accessories to consumers, leveraging robust infrastructure that eliminates the need for a warehouse.
