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achicaEcommerce group Worldstores is to merge its flash sales businesses under the Achica brand with the Casafina label to be dropped and customers migrated over.


The decision follows an internal review at the Twickenham based furniture, home and lifestyle retailer after it acquired Achica late last year (see related).


“We have made the decision to consolidate Achica and Casafina into one,” the group said in a statement to The Furnishing Report.


“Due to the significant brand awareness built by Achica over the last six years, the new combined offering will trade under the Achica brand with the Casafina brand ceasing to operate as a flash sale brand.”


Casafina was launched in the summer/autumn of 2013 as a members-only boutique online retail store selling branded homeware at prices up to 70 per cent off RRPs.


Worldstores added that Achica CEO Steve Robinson and the team had joined Worldstores, and the Achica brand will continue to run independently. It also said it would make further announcements in the coming weeks.


Terms for Worldstores’ acquisition of Achica were not disclosed at the time the deal was announced.


Companies House documents filed since show Worldstores issued new ordinary and preference shares in consideration for the acquisition of shares in Achica as well as certain debts owed by the flash sales retailer.


95,209* new Worldstores shares were allotted in all, representing 8.9 per cent of the total 1,075,289 in issue across multiple share classes.


* 56,992 ordinary, 8,435 D1 Preferred & 29,782 D2 Preferred


RelatedFlash sales, Casafina owner Worldstores buys Achica