/The Czech Republic bought Studio Moderna from the funds
The Czech Republic bought Studio Moderna from the funds

The Czech Republic bought Studio Moderna from the funds

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Sandi Czech bought it back from the funds to which Studio Moderna sold years ago. The price of the deal is unknown.

“There are a lot of synergies between the new and the original company. In 2002 I launched the first ‘bed in the box concept’, now I have an even bigger revolution in beds and their distribution, “says the Czech.

Funds that In 2019, they completely took over Studio Moderna – a group that deals with television and online sales, combined with sales in stores -, they recently decided to exit completely, we revealed recently. Warehouses Insight Venture Partners , Templeton, General Atlantic and JH Partners have been owned by Studio Moderna for more than a decade – the first two joined the group in 2010, the third in 2011. In 2019, they bought another half of the group, which was still owned by the founder Sandi Češka – he then kept the part of the group that deals with beds. Now the Czech Studio Moderna is buying back.

The time for the withdrawal of funds was not good, as Studio Moderna was also badly affected by the war in Ukraine and sanctions against Russia, but in the funds insisted that they had been owners for too long. Usually, investment funds remain for three to seven years. Ukraine and Russia account for a significant share of Studio Moderna’s revenue, totaling almost 12 percent last year. Nevertheless, both markets and the licila.si website were involved in the transaction. “Everything is in a package, but there will be changes,” says Češko. He has not yet announced which ones, but says that they will be fast.

How Studio Moderna operates

According to the sales prospectus, Studio Moderna generated approximately EUR 440 million in revenues last year, but its profitability is quite low – it generated from its core business only five million euros of gross cash flow (EBITDA). Studio Moderna also has more than 340 physical stores, 16 distribution centers, operates in just over 20 countries, has more than 350,000 website visits per day and more than 160 hours of television commercials per day.

Last year, the group generated more than a quarter of its revenue online, and a good fifth through television sales and telemarketing, the prospectus reads. Its largest market is Slovakia, where it generated 15.5 percent of revenue, and about a tenth each in the Czech Republic and Romania. Slovenia represents four percent of sales.

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