Italian and European smartphone accessories specialist Cellularline has acquired 80% of the share capital of Swiss company WorldConnect, an expert in travel adaptors through its Skross and Q2 Power brands.
The companies said the new alliance “leverages synergies for both companies with the aim to strengthen their international presence in multiple channels, but particularly in travel retail.”
Cellularline was founded in Reggio Emilia in 1990. Its brand portfolio includes Cellularline, PLOOS, AQL, MusicSound and Interphone, with products available in over 60 countries. The Skross product range includes world travel adapters, USB chargers for car and home, power banks and USB cables. As reported, Skross launched a premium Alpha by Skross world travel adapter into global travel retail last year. The adapter was developed in collaboration with Scandinavian design consultancy, Jacob Jensen Design. |
WorldConnect said it aims to move into the “highly relevant” mobile accessories segment through the alliance, hoping to become the “one-stop supplier for mobile accessories solutions for travel retail”.
“On top of that, WorldConnect will take advantage of Cellularline’s sophisticated product development and innovation processes which will result in even more relevant and up-to-date products in the global travel retail industry,” the company added.
Skross Managing Partner Sam Gerber noted the brand’s collaborations with major travel retailers worldwide.
“Joining forces with Cellularline offers perfect synergies in broadening the product offering in a very innovation-driven, vibrant market environment. We are extremely excited to team up with a company and its management with whom we share so much in terms of vision and passion,” Gerber said.
In a statement following the announcement of the acquisition, Cellularline said: “Notwithstanding a temporary setback due to COVID-19, the global airport travel retail market – the main distribution channel for Worldconnect – has been growing in the last decade; it is foreseen that the channel will then progressively normalise in 2021, before resuming the growth trend enjoyed in recent years.”
Cellularline Co-CEOs Christian Aleotti and Marco Cagnetta said the acquisition opened doors to a “strategic market featured by a clear long-term growth trend of travellers all over the world and characterised by high spending capacity”.
They added: “The acquisition also allows us to integrate and expand our offerings with Swiss quality products.
“Although COVID-19 penalised 2020, we believe that long-term macroeconomic dynamics – population growth, rapid urbanisation and the consequent increase in disposable income in many developing areas – will continue down the current path and continue to support growth of the travel retail market in the long run,” they concluded.
