- The Business: Founded in 1999 in Munich, Zooplus is Europe’s leading pet supplies online retailer with a market cap of €0.8bn. Over the last 10 years, the company achieved an impressive 27% sales growth per annum. As at year-end 2018, the company reached net sales of €1.3bn from 30 countries. Its typical customer is female, 40 years old and spends €250-€290 annually on cat & dog food with an average basket size of €54. The order pattern has low seasonality, suggesting Zooplus has certain “consumer staple” qualities at first glance.
- Zero Moat