Big Red Group acquires social concierge Lime&Tonic
Written on the 4 September 2019 by Business News Australia
Naomi Simson's Big Red Group (BRG) has today added another experience marketplace to its growing suite of brands.
Lime&Tonic, an events and experiences retailer, joins RedBalloon, Adrenaline and IfOnly under the Big Red umbrella.
The acquisition follows the launch of BRG's IfOnly in June this year and the acquisition of Adrenaline in November 2018, the first ever acquisition for BRG.
Shark Tank mentor and co-founder of BRG Simson says she is excited for Lime&Tonic to join BRG's growing family of experience-based businesses.
"Gourmet dining and pamper experiences is what Lime&Tonic is known for, and we know from our other brands that these are two of the fastest-growing segments in the experience economy," says Simson.
"Every aspect of Australian retail is facing increased competition from global players, and this is no different for experiences. To compete in the experience economy Australian brands must be of a size that allows capital investment for growth and working together is one way to achieve this.
"It is also becoming increasingly difficult for smaller businesses to navigate digital channels as large global players have deeper pockets to invest in technology, machine learning and big data. Key digital channels such as Facebook and Google have become increasingly expensive and it is proving challenging for even the best marketers to keep up with shifting algorithms, rules and customer expectations.
"What I do know is that customers seek out experts and curation when it comes to experiences and Lime&Tonic adds a wonderful dimension to complement the range of experiences we offer today."
Simson hopes that with the addition of Lime&Tonic the company will come closer to its goal of serving an experience to customers every second by 2025.
Business News Australia
Author: Business News Australia