There’s been a big deal in the UK and geeky retailers. The family-run Prezzybox has been bought by Gift Universe.
Prezzybox was set up in 2000 to sell cool gifts and, to quote their mission statement;
…to create moments of happiness by delivering the extraordinary
Menkind, the geek and gadget front of Gift Universe, has bought companies before. They’ve bought Red5. In 2021, they snapped up the 1973-founded Hawkin’s Bazaar.
The Hawkin’s Bazaar brand is now gone. However, the Prezzybox brand looks, for now, more robust. Gift Universe has said “no significant” changes to brand name, identity, ethos and value proposition.
Why do the deal? Behind-the-scenes benefits to buying power, marketing and finances.
Barney Edwards, Prezzybox Commercial Director, commented:
We’re pleased that the business is going into Gift Universe’s capable hands and look forward to seeing it go from strength to strength in the future. As a family, we have put a huge amount of effort into building the business and we are happy to pass it on to a company that can help it achieve its potential.
We are thankful to all the external stakeholders we have worked with and, most importantly, we would like to thank our many team members from over the years. Despite growing into a big operation from a small family business, we have always felt like one big family.”
Paul Kraftman, CEO at Gift Universe, added:
We are excited to continue the growth of our business through the acquisition of this well-established family brand. The acquisition of Prezzybox provides further opportunity to develop and grow our offering and increase our foothold in the gifting industry, enabling us to continue to expand our customer base”
The name Gift Universe Group is relatively new, previously known as Menkind Group.
70% of the revenue the shops make comes from products designed by their in-house team. They’ve 50 stores, with seasonal pop-ups used for Christmas and a B2B proposition.
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