Gruner & Jahr USA Publishing entered into a strategic partnership with BabyGear.com, a baby superstore, with an investment of $8.5 million in the company. Gruner & Jahr, itself 74% owned by Bertelsmann, is featuring BabyGear.com as the exclusive baby products retailer on Parents.com, the online counterpart to Gruner & Jahr's Parents magazine. BabyGear.com will use the proceeds from this agreement for the continuation of the targeted marketing programs to draw customers. Gruner & Jahr Exec VP-Chief Operating Officer Andreas Wiele will join the BabyGear.com board.
Copyright April 2000, Crain Communications Inc.