Acquisition Will Complement the Group's Portfolio, Broadening Its Digital and Retail Footprint In New Sector
BOW Group today announced that it has successfully completed the acquisition of Musart.com, a fast-growing online destination to buy original artworks and licensed products. This transaction will allow BOW Group to seize new opportunities in the booming digital art market.
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(Photo: Musart)
"BOW Group and Musart share the same passion for good yet accessible design that brings emotions to consumers at every moment of the day," said Boris Brault, BOW Group Founder and CEO. "Together, with Musart's unique product curation and established relationships with leading institutions, we can conquer the thriving online art market thanks to our global ecommerce, logistics and development capabilities. With Musart in our portfolio, we are expanding our offering and enhancing the growth potential of our business beyond IoT and lifestyle objects. Today, the art world is fundamentally changing, disrupted with new players and media; we want to participate in that shift by helping consumers get access to art pieces and accessories, under different forms, at every price points."
Since its inception in 2014, Musart has sold thousands of pieces of collectibles. Founded by French Art-Lover and Entrepreneur Vincent Gregoire, Musart's mission is to make art accessible, giving anyone the opportunity to «own a piece of museum».
Partnerships with world-class museums, foundations and cultural organizations allow Musart to bring not only exclusive and authentic items, but also, to honor iconic artists such as Basquiat, Cattelan, Da Vinci, Dali, Haring, Hokusai, Kahlo, Klimt, Kusama, Magritte, Michelangelo, Miró, Modigliani, Mondrian, Picasso, Pollock, Van Gogh, Warhol. Licensed items, numbered and signed pieces include the world famous Kaws, Medicom Toy Be@rbricks and Kidrobot, as well as new promising talents. The selection spans multiple product categories: sculptures, home decor and office accessories, stationary, books, clothing, etc... with prices ranging from $20 to $20,000.
Customers receive not only an art piece but also a short biography of the corresponding artist for each purchase, proving Musart's commitment to democratizing art and its educative vocation. Headquartered in Miami, Musart has first experienced a retail journey and embarked into a successful digital experience with its own website and 5-stars Central Seller page on Amazon, gathering today more than 1000 references and a highly active community of collectors.
By joining BOW Group, Musart will benefit from the group's 360° platform, including a mature D2C digital ecosystem, multiple warehouse locations to serve consumers around the globe and its R&D center BOW Industries to handle its licensed and private label activities. One of the first objectives is to expand Musart's sales activity outside the US, especially in Europe. While Musart will undoubtedly diversify BOW Group's offering from a B2C standpoint, it will also meet the demand of B2B and Corporate customers with a whole new range of exciting gift objects.
Musart Founder Vincent Gregoire said: "I'm thrilled to join BOW Group with whom we share the same entrepreneurial mindset and consumer-driven approach. This integration marks a new chapter for Musart, one that will definitely help us reach our full potential at a global scale and embrace the new disruptive changes of our industry, such as NFTs. Leveraging BOW's existing digital resources, ecommerce and supply chain infrastructure will take our business to another level, bringing innovative online experiences such as AR technology while continuing to make art accessible to anyone."
Follow Musart
Instagram: https://www.instagram.com/musartboutique/
Facebook: https://www.facebook.com/musartboutique/
About BOW Group
BOW Group is a global player and multi-skilled platform operating worldwide with two consumer brands: Lexon, the design object editor, and MyKronoz, the IoT specialist both powered by its own R&D and manufacturing center, BOW Industries. In addition, BOW Group owns the luxury concept-store chain Legacy.
Every year, BOW Group sells about 2 million pieces of products in 90 countries and across 9000 points of sales, thanks to its international recognition and network of leading designers celebrated with more than 200 Awards received, including 7 Red Dot Design Awards won by its two brands in 2021.
BOW Group has now more than 100 talents spread across four office locations: Paris, Geneva, Miami and Shenzhen.
Since July 2015, BOW has opened up its capital to NextStage AM, then, in 2017 to PM Equity Partner the corporate venture fund of Philip Morris International.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005637/en/
Contacts:
Annabel Corlay
a.corlay@group-bow.com
