Footway acquires 100% of Brandos
Footway makes another strategic acquisition and acquire Brandos that will generate economies of scale, purchasing power and higher capital efficiency. Footway is now the clear market leader in the Nordics in selling shoes online. The online penetration in the Nordics is 6% and is expected to increase to 25% over the next five years in line with the online penetration in US/UK. The acquisition is financed by a new issue to existing shareholders of SEK 72 million.