Storesquare, the Belgian e-commerce platform for and by the local retailer, is showing strong growth and welcomes ING Belgium as a new shareholder, alongside existing shareholders Unizo, KBC & Roularta Media Group.

12 December 2017

The entry of ING Belgium into the capital of Storesquare (65% Roularta) increases the Belgian e-commerce platform’s value to 15.6 million euros, a fact that will further accelerate growth. Moreover, the Belgian e-commerce platform will be launched in the coming months in the Netherlands, ING's home market.

Frank Stockx, COO ING Belgium: "With the entry into the capital of Storesquare, ING Belgium is further committing itself to expanding digital services, in this case for local Belgian retailers. It is in ING's DNA to help others stay one step ahead. In this way we can put our goal into practice and also help retailers strengthen their online business. We believe that the Storesquare approach is in line with the ING's extremely easy and extremely personal approach. We are therefore proud to join with the other Storesquare initiators in supporting the platform as an e-commerce alternative for the Belgian market.”

Xavier Bouckaert, CEO Roularta Media Group: “In less than two years, Storesquare has acquired a permanent place in the Belgian e-commerce landscape. Storesquare has grown into a full-service e-commerce platform with 600,000 visitors monthly and more than 245,000 unique products. Despite this strong growth, Storesquare remains faithful to its values: a platform by and for local retailers who warmly welcome consumers with local and original products that cannot be found elsewhere. Our healthy ambition is to become the largest Belgian online store in 2018. We are delighted that ING, together with KBC and Unizo, wish to contribute to this exciting story.”

Erik Luts, CIO KBC: “KBC was at the forefront of Storesquare’s launch in early 2016. We find it very important to support local Belgian retailers and the economy. We at KBC believe strongly in the power of combined physical and digital services, in solutions that make it easier for the customer. Doing this together with others is also typical for KBC. The recent expansion in capital and shareholders underlines the desire to develop a valid Belgian alternative to the many foreign e-commerce sites.”

Storesquare is growing
During the first ten months of 2017, 13 times more revenue was generated than in the first ten months of 2016. This thanks to the 600,000 monthly online shoppers at Storesquare. Between the start of Storesquare in early 2016 and today, 1,000 retailers have joined who offer more than 245,000 unique products. Storesquare expects to reach a monthly volume in December of 1 million online shoppers.

Storesquare innovating and expanding its range
Storesquare will be launching a solution for the Flemish pharmacy sector in the spring of 2018 and will provide thousands of parapharma products to millions of consumers. It will connect hundreds of pharmacies in one strong network. Parapharma is the logical and simple first step. But a solution for the sale of prescription medicines will also follow. Storesquare is implementing this initiative with real offline pharmacies that guarantee quality and service.

Storesquare supports
Storesquare acts both as a marketing platform and as a sales channel for the local retailer. Sales of the local retailer’s products are also supported through numerous marketing and promotional campaigns. In addition, Storesquare organises workshops to teach retailers how to set up a digital store and to detect new digital opportunities.

Storesquare is trusted
Local retailers trust the Storesquare e-commerce platform thanks to its omni-channel approach. Retailers recognise Storesquare as the extension of their physical shop. The platform builds on the strengths of the local retailer: service, quality and a unique product range. Plus Storesquare does not carry its own stock and therefore does not compete with the local retailer. On the contrary, the platform puts the spotlight on the shop.

Storesquare gives a face to e-commerce
Storesquare gives a face to e-commerce, namely to the 1,000 affiliated retailers who offer more than 245,000 unique products in many categories such as clothing and shoes, babies and children, home and kitchen products, computers and electronics, ... The retailers and their products, often unique in e-commerce, are the focus. Storesquare only provides active guidance. Thus Storesquare is well on the way to becoming a sustainable e-commerce platform that delivers authenticity, trust, service and a unique product range to discerning consumers.

Xavier Bouckaert
Jeroen Mouton
Tel+32 51 26 63 23 Tel+32 51 26 68 92
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