Lexon writes a new chapter in its history by joining BOW Group

(MENAFN- Investors Ideas)
Lexon writes a new chapter in its history by joining BOW Group

PARIS, France - January 25, 2019 (Investorideas.com Newswire) BOW Group announces the acquisition of French lifestyle brand Lexon in order to diversify its portfolio beyond the Internet of Things.

Lexon Mina, Mino, Mino X and Mino L. Design by Manuella Simonelli & Andrea Quaglio

Lexon, with 28 years of existence, more than 180 design awards, successful collaborations with some of the most prestigious designers, presence in 90 countries, over 6,000 point of sales and a prosperous activity in corporate gifts, has established itself as a worldly-known French design brand.

Lexon's collections of timeless objects and luggage, designed for the home, office, travel or urban nomadism, combine a strong identity with simplicity of use, a daily aesthetic pleasure for consumers. Some of Lexon's iconic products are featured in the permanent collection of world-class museums such as MoMA in New York and Centre Pompidou in Paris. The most prestigious design boutiques including the Fondation Louis Vuitton, Le Bon Marché, the MoMA Design store, have confirmed the brand's international presence.

Among Lexon's best-sellers we can mention Tykho radio, Flip alarm clock, Airline luggage and Mino portable speaker, its latest success with over 500,000 pieces already sold in less than a year.

Boris Brault, Founder and Chairman of BOW Group says:

Lexon is an iconic French company: its lifestyle aesthetic, combined with an expertise in creating desirable yet affordable objects aligns with our ambition to conquer the market of lifestyle consumer products, together with sister brand MyKronoz, which has convinced more than 3 million users in less than 5 years. Today, we plan to build upon Lexon's strong foundations to seize significant market opportunities. Having Lexon among BOW Group will bring an incredible design heritage and provide additional growth through diversification."

By joining BOW Group, Lexon will benefit from the group's existing platforms, such as its Shenzhen-based R&D center of about 40 engineers and manufacturing capabilities named BOW Industries, a strong network of online and offline sales channels and an effective digital set-up. One of the first objectives is to expand its commercial activity and increase brand exposure notably through the launch of a new e-commerce website.

Lexon's founder René Adda, who joins BOW Group executive team as Chief Design Officer and remains partner says: "This operation marks for Lexon an incredible milestone to reach our full potential. I'm thrilled to join BOW Group with whom we share the same entrepreneurial spirit, passion for design and a consumer-driven approach. This integration will give a new momentum to Lexon by accelerating presence in untapped channels and countries through selective distribution. In addition, leveraging BOW's existing R & D and supply chain infrastructure will incredibly facilitate our product development and then our scaling strategy."

ABOUT LEXON

Lexon is part of BOW Group, a global player operating worldwide in the design and wearables markets with its 2 brands: MyKronoz and Lexon .

BOW Group has now more than 100 talents spread across four office locations: Paris, Geneva, Miami and Shenzhen.

Since July 2015, BOW raised more than $40 million from NextStage AM in series A, followed by series B in November 2017 lead by PM Equity Partner - the corporate venture fund of Philip Morris International - and crowdfunding platforms. MyKronoz ZeTime raised +$8M from over 40,000 backers in more than 100 countries and became the world's highest funded hybrid smartwatch, as well as the largest crowdfunding campaign ever from a European company and the most backed product of 2017. Since its foundation in 2013, MyKronoz has sold more than 3 million products and established itself as a fierce challenger to both tech and traditional watchmakers.

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