Goodbaby International Establishes Joint Venture with Scandinavian Distributor NICAM A/S Through Wholly-owned Subsidiary Columbus Trading GmbH
Expands Direct Distribution Network in Europe
Goodbaby is pleased to announce through its wholly-owned subsidiary Columbus Trading GmbH, it established a joint venture company in early January, Columbus Trading Partners – Scandinavia, with the Scandinavian distributor NICAM A/S. Goodbaby International holds 70% stake in the joint venture company. The move greatly increases its influence in Scandinavia, as Goodbaby International’s products are now directly distributed to a large and affluent region that includes Denmark, Sweden, Norway, Finland, Iceland and Greenland.
Scandinavia is the largest market in Europe for nursery products after Germany, UK, France, Spain, Italy and BeNeLux (Belgium, the Netherlands and Luxembourg). Scandinavian countries have some of the highest disposable incomes in the world. Building a strong direct distribution platform in this region will facilitate Goodbaby International’s penetration in the market.
The new company incorporates the entire NICAM A/S team, who bring extensive experience from the juvenile products industry under the Group’s umbrella. For Goodbaby International, this progressive business venture will further reinforce the Group’s brand CYBEX’s market position in Scandinavia, and open these markets to the full product portfolio of world-class juvenile products.
Niels Dahl-Nielsen, founder and CEO of NICAM A/S, said about the agreement, “I am very excited about this important strategic partnership. I am confident that the new partnership is the perfect foundation for fast and solid expansion – not only for the strongly-established premium brand CYBEX, but also the Group’s other brands and product categories.”
Martin Pos, CEO of CYBEX and Deputy CEO of Goodbaby International, said, “We have a particularly strong relationship with NICAM as they were one of the first distributors of CYBEX, and our friendship and mutual respect has only grown stronger over the years. I am very happy about this new partnership, which will cement our position in Scandinavia and create a perfect platform to accelerate the expansion plans of the Group’s entire portfolio of brands and products.”