Gumboot.co.nz has been acquired by iQ Toys

Gumboot.co.nz has been acquired for an undisclosed sum by online retailer iQ Toys.

Established in 2003, Gumboot.co.nz is a specialist DVD retailer with a catalogue of over 27,000 titles and “thousands of customers in New Zealand and overseas” according to iQ Toys owner Shane Loomb.

IQ Toys was one of New Zealand’s first online retailers starting in 1996 and operates the Baby Universe website in addition to its popular iQ Toys website. Operating from 2300sqm premises in Mount Maunganui, iQ Toys has combined revenues expected to exceed $5m in the coming year. IQ Toys have also expanded into the Australian market and now have a 400sqm warehouse/showroom in Queensland with more planned for other Australian states over the next 12 months.

Following their acquisition of Gumboot at the end of July, iQ Toys has moved quickly to relaunch the Gumboot website with updated branding and has expanded the Gumboot product range to include books and an extensive selection of toys. “Gumboot is iconic to many New Zealanders and we see many marketing & promotional angles to the Gumboot theme” says Shane.

A “Gumboot tossing” iPhone application is planned to help build the Gumboot brand and successful throws will offer bonus discounts which can be redeemed at the Gumboot website - ranging from free shipping to additional discounts from 1% to 100%. A similar type application will be added to the Gumboot checkout pages later this year.

ENDS

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