Cimpress Acquires Majority Stake In VIDA & Co.
Cimpress, the Dutch parent company of Waltham, Massachusetts, distributor Vistaprint (PPAI 565755), and San Diego, California-based distributor National Pen Co. LLC (PPAI 107176), has acquired a majority stake in San Francisco-based VIDA & Co, a producer of apparel, accessories and home decor, in a $29 million deal.
“We are investing in VIDA because of its innovative and fast‐moving approach to disrupting the large market for retail‐grade consumer products via mass customization,” says Robert Keane, Cimpress founder and CEO. “VIDA Founder and CEO Umaimah Mendhro and her executive team are experienced and focused entrepreneurs who will remain co-owners in the business and continue to build VIDA for the long term. VIDA pushes the boundaries of where Cimpress has historically operated and thus opens the door for us to expand our mass customization efforts into new and different markets.”
VIDA & Co. works with artists and designers around the world to produce products on demand at scale. Its supply chain produces mass-customized items ranging from custom-printed cashmere scarves to 3D printed jewelry. The company recently entered into a collaboration with Lord & Taylor to launch an art-inspired accessories and home collection featuring VIDA artists from around the world. The collection will be available exclusively at Lord & Taylor and will showcase custom-made pieces of wearable art, each with a unique story, supporting the company’s social impact programs— for every product made, VIDA offers education and empowerment programs for its factory workers.
“We are thrilled to find in Cimpress a visionary partner that we feel a deep alignment with in terms of philosophy and values, as well as our strategic vision for the business,” says Mendhro. “We believe the traditional retail industry, where a group of buyers predict demand and build inventory before any sales are materialized, is broken. With the innovations in rapid manufacturing and mass customization, a growing global creative community, and clear demand from consumers for unique products that are made in a responsible way, VIDA is in a unique position to partner with Cimpress and benefit from its technology and mass-customization infrastructure to build the retail of the future.”