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Swedish lighting company Profoto has announced its purchase of StyleShoots, a Dutch manufacturer of studio automation products targeting the fashion e-commerce market. Under the terms of the deal, Profoto has paid about 18 million euros ($19.6 million) for 100% of StyleShoots and says it expects to retain all 41 employees of the acquisition. This includes both the current CEO and CFO, who have so far been the owners of StyleShoots as well.
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StyleShoots was first launched in 2011 with Horizontal, a flat product photography solution for items such as clothing. The company has since expanded its offering to include a vertical view based on a mannequin, as well as StyleShoots Live for model photography and Eclipse for small items like shoes, cosmetics, and food. Both the latter systems are also intended to allow video capture. For 2021, the company has sales of €9 million (US$9.8 million) and has averaged sales growth of 11% over the past six years.
As for Profoto, its history can be traced back to the late 1960s, although the brand only officially debuted on the US market in 1992. While it has some products in other categories such as camera bags, the bulk of its product line revolves About the lighting of the image. Between its Swedish headquarters and seven subsidiaries, it has a total of 139 employees, and net sales in 2021 were approximately €71 million (US$77.2 million).
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The deal sees Profoto's lighting offerings extended to products that, while still clearly targeting the photo market, are intended for use by lay people rather than experienced photographers. The goal is to maximize efficiency and minimize costs by relying on automation and a carefully designed process for the types of products being photographed. This eliminates the need for a skilled and well-paid photographer who might be needed to control the lighting and set up the camera manually.
How will the acquisition affect the e-commerce market
In response to a request for comment on the news, Profoto President and CEO Anders Hedebark referred to PopPhoto He sees great potential for both Profoto and StyleShoots in the high volume e-commerce market over the coming years.
“With recent years of rapid digitization and increased consumer online shopping, we have seen a huge increase in the demand for high-quality images in bulk, by professional e-commerce players, brands and retailers with an e-commerce presence,” Hedebark revealed. “With our heritage in fashion and studio photography, today nearly 100% of all photos are [ending] Online, we see it as a natural strategic move to add StyleShoots, integrated workflow software, and hardware solutions to further enhance our e-commerce photography studio offering. "
Photographers are careful
However, not everyone will necessarily welcome the news with open arms. Professional photographers, in particular, have been wary of products like these, which some see as encroaching on their livelihoods.
Hedebark doesn't see it that way, suggesting StyleShoots products are only aimed at boring, repetitive work that most photographers prefer to avoid. He believes that with their time freed up, they will be able to use it more effectively for other photography projects that make better use of their talents.
“We see the market developing in two directions, on the one hand, high-quality creative photography and on the other hand high-productivity work,” Hedebark noted. "[These are] Different types of photography with different needs that require different solutions. "
For photographers still wary of consolidation, Hedebark has some good news: “Our acquisition of StyleShoots is not a sign that we are moving away from professional creative photographers. We are constantly reinvesting 10% of sales in research and development to develop products and solutions, especially Regarding lighting tools and light shaping for creative professional photographers.”
#Photography
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