Press Release: More than backpacks!
FOND OF achieves record sales, expands brand universe and strengthens management team
Cologne, August 2018 – FOND OF confirms its expansion plans with sales growth of around 25% in the past financial year. With “FUNKTION SCHNITT,” FOND OF adds the first fashion brand outside the backpack and bag sector to its portfolio. And the management of the young Cologne-based company is growing with Dr Thomas Wallraff, an operations expert who will take over responsibility for Operations, Procurement and Solutions.
Full steam ahead – FOND OF almost reaches the EUR 70 million turnover mark
The success story of the Cologne backpack manufacturer, which has been revolutionizing the market for school bags with ergobag since 2010, continues. Meanwhile, a total of six additional backpack and bag brands have been launched. In addition to the kids and schoolchildren segment with Affenzahn, ergobag and satch, FOND OF sets strong accents in the fashion & lifestyle sector with its brands AEVOR and pinqponq. With SALZEN, FOND OF also offers a business brand that shows that New Work is not only practiced, but also worn. After a last turnover of approx. 55 million EUR, the 2017/2018 financial year, which ended in July of this year, was successfully finished with an increase in turnover of approx. 25% to more than 69 million EUR.
FUNKTION SCHNITT, opens new product horizons
After FOND OF removed the addition “BAGS” from its name on August 1, 2017, the company now launches products outside the backpack sector.
The product universe grows through the integration of the fashion label “FUNKTION SCHNITT,” which was initially established independently by the FOND OF founders and managed separately. In its store on the popular shopping street Ehrenstrasse in Cologne, the start-up?impresses with its T-shirt and longsleeve collection due to the variety and innovation in the mix of materials. Six different raw materials – from organic cotton and merino wool up to innovative algae and wood-based blends – are currently being used to produce T-shirts and longsleeves. Like all FOND OF brands, Gesa Bollmus and?her team focus on a special design language, high functionality and responsible production: “We produce and work exclusively with fabric manufacturers and suppliers who are just as challenging and uncompromising as we are in the selection and processing of our materials,” says Gesa Bollmus. Through integration into the FOND OF family, FUNKTION SCHNITT, will make even better benefit from synergies in the areas of digital, e-commerce and operations, for example. More about FUNKTION SCHNITT, …
Dr. Thomas Wallraff becomes the new helmsman
The logistics expert has been on board since August 2018. Most recently, Thomas Wallraff was responsible for the German fashion category at Amazon and established Home24 and Fashion ID (Peek&Cloppenburg’s online shop) as COO. At FOND OF, the manager is responsible for Operations, Procurement and Solutions.
FOND OF plans to move to new headquarters
The founding trio of FOND OF, Florian Michajlezko, Sven-Oliver Pink and Oliver Steinki, are currently building Germany’s most digital office building “The Ship” in Cologne-Ehrenfeld. The modern six- to seven-floor building with a gross floor area of approximately 13,700 square meters offers space for about 500 workplaces and is intended to strengthen the local start-up scene. From the end of 2019, it will not only be the new home for the FOND OF team, but also help to further establish Cologne as a start-up hub.
In the press area you will find the pictures & the press release for download:? ? ? ?
Martin Steinbach & Daniel Bergold