RTL announces investment in Travelbags

By

Shomara Roosblad

Published
Jun 5, 2018

Dutch investment company RTL Ventures, part of media- and entertainment company RTL, announced on Tuesday that is has reached an investment agreement with Dutch bags and luggage specialist Travelbags.

As a result of the agreement, RTL will take a minority stake in the retailer for an undisclosed amount. This marks the second fashion-related investment for RTL following an investment in Danish e-tailer Miinto in 2016.

RTL Ventures said in a press release that Travelbags has reached a strong position in its niche market due to its multichannel approach of operating both online and physical branches.

Gerjan Horstra, owner at Travelbags, said: “More and more people are traveling, so there is an increasing demand for suitcases, bags and accessories. We want to continue our growth in the Netherlands and Belgium and rollout Travelbags in neighboring countries. In 2016 we came in contact with RTL and immediately noticed that TV is a powerful medium to reach many people. It has contributed to a significant increase in our brand awareness and (in) direct sales.”

Vincent Pieterson, Investment Director RTL Ventures, added: “Travelbags started a billboard campaign at RTL in 2016. We are now joining forces to make Travelsbags even better known to the general public. By seeking the connection with our brands in the field of fashion, lifestyle and travel, we want to give an extra boost to the growth of the company. We also use our network within the RTL Group to help them with the further international rollout.”

Travelbags launched in 2007 as a family-owned online store. In 2012 the retailer opened its first physical location in Zwolle, followed by branches in Hardenberg, in 2014, and Groningen in 2017. The online store is also available to the Belgian market. The bags and luggage specialist offers more than 15,000 products from 135 brands.