Lovehoney has announced it has completed its acquisition of a majority stake in leading Swiss online retailer Amorana. Founded in 2014 by Lukas Speiser and Alan Frei, Amorana also specialises in ‘sexual happiness’ products, and it has a local Swiss warehouse and support operation.
With the backing of Lovehoney, Amorana will now look to ‘further cement its position as the number one player in Switzerland’, the announcement said. It added that Amorana also sees opportunities for expansion into other European countries where it can use its expertise to grow the market for sexual wellness.
Following the investment, Amorana founders Lukas Speiser and Alan Frei will remain in their roles as CEO and CMO respectively and will continue as shareholders of Amorana. Financial details of the Lovehoney investment have not been disclosed.
Amorana co-founder Lukas Speiser expressed his delight at completing the transaction: “At Amorana, we always focus on the needs of our customers and work tirelessly to provide them with the perfect shopping experience,” he said. “In just six years, Amorana has grown from a small start-up to the leading Swiss online supplier of lifestyle and sexual wellness products. We’re excited to be partnering with Lovehoney as we continue to grow and innovate the online retail space in Switzerland and abroad.”
Fellow co-founder Alan Frei added: “We started in 2014 with the vision to change the market for sexual wellness products in Switzerland. Looking back, we prepared the ground for a whole industry, bringing it out of secrecy and into the bedrooms of the Swiss customers. It has been a phenomenal journey for Lukas and myself and we’re beyond excited about our future plans for Amorana as part of the Lovehoney Group.”
Lovehoney co-founder Neal Slateford commented: “We are delighted to add Amorana to the Lovehoney Group. Lukas and Alan have done a great job growing Amorana to the strong position it is in today and we are confident that Lovehoney can help on the next leg of this exciting journey.”
The Amorana announcement came just two after Lovehoney scooped three awards in the 2020 ETO Awards: Best Online Retailer, Best Brand Ambassador for Kate Hodgson-Egan, and Best Sales Team.
Best Brand Ambassador winner and Lovehoney international sales manager Kate Hodgson-Egan said: “It is an honour to have won three awards at this year’s ETO Awards. 2020 has been a strange year full of challenges for everyone and we’re extremely proud of Lovehoney’s recent successes. Everybody has worked incredibly hard and these awards are a fitting recognition for their efforts”
She added: “Winning an ETO Award means so much to Lovehoney because the awards are chosen by the people who are most important to us – our customers.”
