Companies

Footway Group moves e-commerce business to a new group

Jul 12, 2024 Sweden

The Sweden-based Footway Group AB has transferred its e-commerce business to a new group of companies, as part of a strategic review that has been underway for the past four years

The online shoe retailer Footwear Group has now established a new group of companies consisting of Ecom Group AB, with four wholly owned subsidiaries (Eyewear Ecom AB, Sports Ecom AB, Footwear Ecom AB and Fashion Ecom), to which it has transferred its e-commerce business.

The separation is in line with the company’s work over the past four years to split e-commerce and platform (footwayplus) into separate businesses. According to the statement, Footway’s platform has grown significantly faster than expected over the past 6 months, and the separation allows for a clearer focus on each area.

“The separation marks an important milestone for the company. We have worked hard over the last four years to fine-tune our platform to enable e-retailers to cost-effectively expand internationally without investment and cumbersome integration”, said Daniel Mühlbach, CEO of Footway Group.

“As part of the strategic review, we will actively seek partners to continue to develop the e-commerce stores in close cooperation. The potential is huge, the stores have strong brands, over 3 million customers and a strong team”, he concluded.

From now on, the group’s revenue will mainly consist of sales of services to companies using the Footway+ platform (footwayplus.com), including platform revenues from Ecom Group AB and its subsidiaries.

Image Credits: footwayplus.com

Sweden ecommerce Footwear Management Online Shoes