Adeo splits from Tikamoon, acquired by its managers
The managers of the pure-player, Arnaud Vanpoperinghe and Thibault Deslorieux, are acquiring control of the company with the support of the ERES investment fund (part of Edmond de Rothschild Private Equity). Arnaud Vanpoperinghe tells us more about the strategic and operational development.
What are the reasons for Adeo's departure from Tikamoon?
The Group decided to concentrate on its strategic axes and its historical business (DIY). Last summer, Adeo announced its intention to withdraw from the Tikamoon adventure. After a brief moment of surprise, my partner Thibault Deslorieux and I decided to take over the company in order to pursue our TikaGreen project, as the reference brand for sustainable furniture in Europe.
In ten years, we have expanded from 5 to 150 people.
It was out of the question for us to leave our teams. We therefore carried out the technical part of the process, i.e. the purchase of all Adeo shares with the help of our three historical bankers and a Parisian investment fund, ERES, belonging to Edmond de Rothschild Private Equity. We set off for a few years in complete freedom to carry out our project, which we consider to be a mission-driven company. During our discussions, we did not want to "fall into the hands of a financier or an industrial major", who would have forced us to focus on the financial aspect and the margin or who would have "twisted our model" (sourcing, distribution, etc.). We want to keep our freedom to invest in sustainability: notably in FSC wood (Forest Stewardship Council environmental label), life cycle analyses via the carbon balance... For five years (editor's note: in 2015, Adeo bought 100% of Tikamoon's shares and became the majority shareholder), we have shared the same human values and convictions around sustainable development. With Adeo, we went from a small company to a "small big company". We parted on very good terms.
Will your products remain available at Leroy Merlin?
Yes, we will remain on Leroy Merlin's market place but also one of its suppliers. Our products will always be available in the shops.
Are you going to make any changes to the strategic direction of your company?
This takeover is a way of further affirming the company's focus. Adeo has never interfered and has always respected the choices we have made. We offer ourselves the continuation of this autonomy with the financial means
We had a 56 million turnover in 2020, 50% of which was achieved internationally (Germany, Italy, Spain, Switzerland and the UK).
Our next objective is to reach 100 million within two years. To achieve this, we are going to strengthen our investments (digital and off-line) to increase awareness, consolidate our TikaGreen project and structure the company to maintain our growth through strong investments in tools and teams.
In the next few months we will tackle two new markets with Belgium and the Netherlands.
Finally, we have completed our diagnosis to become a B Corp company (international label granted to companies that meet societal and environmental requirements, governance and transparency towards the public). In the coming years, we will work towards becoming a mission-driven company. Tikamoon is totally oriented towards the well-being of people and the planet.
Are you interested in the shop-in-shop trend?
Today, we are working on a number of selected marketing platforms but not in physical stores, due to time and priority issues. We want to continue to operate with small teams working on the basics. Today, we have not yet proven the profitability of this type of investment. This does not mean that there will be no change in the future, but for the moment it is not on our agenda. Nevertheless, we are open to opportunities that may arise. Sustaining our growth remains our priority.
Finally, how is this year going for Tikamoon?
We have experienced strong growth, driven by increased digitalisation due to confinements via the arrival of a new clientele, with a nice brand awareness dynamic. It is very pleasing to see that our work is being rewarded and praised. We have also increased the proportion of FSC wood in our offer from 10 to 30%. We want to go even further in line with customer demand. The year is off to a great start.