8 june 2015

eleven.se acquires beauty.theyouway.com

beauty.theyouway.com, selling beauty products online, was acquired by Aftonbladet in April 2013. Since then, the company has become an important player in the Swedish e-commerce market.

eleven.se has since the start in 2004 been a first mover within the beauty segment, today offering the customers more than 900 brands within beauty, hair and skin care as well as fragrance. With passion for e-commerce and beauty products, eleven.se has helped the beauty industry to develop online.

“We are very positive to the acquisition since they, like us, has a great dedication for beauty products. The acquisition strengthens our market position, at the same time as we get to continue the great work that beauty.theyouway.com has put down throughout the years. Our goal is to give our customers the best customer experience, a complete assortment and to be the obvious destination for the latest within beauty” says the CEO and founder of eleven.se.

The acquired business will be a part of the current organisation within eleven.se, which means that the beauty.theyouway.com name will no longer be used and the plan is to cover the product assortment at eleven.se going forward.

The editorial page The You Way is not affected by the sale and will continue to be managed by Schibsted Publishing.

Company information
eleven AB, founded in 2004 by Michael Gegerfelt, is an authorised dealer with a product assortment covering more than 900 brands and 30 000 items from the most popular and prestigious brands within the beauty segment.

The company is headquartered in Stockholm with the central warehouse in Västervik. The management includes Michael Gegerfelt (CEO), Fredrik Junefelt (CFO) and Hannes Hasselrot (CPO). Majority owners are Michael Gegerfelt, eEquity AB and Verdane Capital.

27 march 2015

New Chairman in Royal Design

RoyalDesign.se is the leading e-commerce player in the Nordics within design, furniture and home deco. The company has grown rapidly under profitability since the start 15 years ago, and have recently elected Fredrik Grevelius as new Chairman, thereby strengthening the Board with valuable experience and expertise.

“We started in 1999 and have been profitable since day one. At the same time we have grown rapidly both organically and through acquisitions. We have now reached a size where the Board wants to strengthen the expertise further and where Fredrik Grevelius is an important piece of the puzzle. He has many years of experience as auditor, financial analyst and CEO for a public company and his knowledge will be very valuable going forward.” says Hans Bengtsson, CEO of Royal Design Group Holding AB.

“As a financial analyst and professional investor I have been evaluating many companies within the retail sector and when I was asked about the role as Chairman at Royal Design Group Holding AB the decision was easy. The starting point is a well managed, rapidly growing and profitable company that still, after 15 years, is perfectly relevant. The company combines e-commerce with physical stores in a competitive way and given the attractive customer offering as well as the fantastic growth potential I see a great opportunity to be part of a continously fast growing and profitable company.” says Fredrik Grevelius, new Chairman of Royal Design Group Holding AB.

Fredrik Grevelius was until October 2014 CEO of the publicly listed investment company Öresund. Prior to that he worked as financial analyst at, among others, ABG Sundal Collier, Danske Securities and Carnegie Investment Bank after working as an auditor at Öhrlings Reveko. He currently works with private investments and sits on the boards of Acne Studios Holding, Carnegie Holding, HomeMaid and Nordiska Bostäder

For more information, please contact:

Hans Bengtsson, CEO Royal Design Group Holding AB
e-mail: hans.bengtsson@royaldesign.se
Phone: 0708-20 29 65

9 march 2015

Footway acquires running shoe specialist Runforest

Footway today announces the acquisition of the running shoe specialist Runforest. By adding additional assortment, contacts, knowledge and customers, the aim of the acquisition is to further strengthen Footway’s position as the leading shoe shop online where sport shoes is an important and strong category.

Runforest is a small and niched player that in short time has managed to build a loyal customer base. Runforests catalog is addressed to the conscious running shoe user that has been able to buy their favorite shoes at favorable prices and good service. The sales rate is about SEK 20 million per year.

The acquisition of Runforest is the latest step in the consolidation of the Nordic market, which Footway began with the acquisition of Heppo in 2013, followed by the acquisition of Brandos in 2014. Runforest adds additional products and expertise in the important running shoe segment and is expected to sharpen Footway’s offering within the sports shoe department in the fight for the conscious and engaged consumers.

Footway and their central warehouse in Helsingborg will offer Runforests existing customers not only an additional 30 000 models in the range, but also the fastest deliveries, a 180 day return policy, free shipping, free returns and personal customer service.

“Runforest has done a fantastic job of building a loyal clientele with a focus on running in a short period of time. The market for running shoes is exciting and in combination with our large focus on the customer experience and service, we believe the deal will strengthen our position in the segment by delivering an even better customer experience for each unique customer”, says Daniel Muhlbach, founder of Footway.

For more information, please contact;

Daniel Mühlbach, CEO
E-mail: daniel.muhlbach@footway.com
Phone: 070-9999343

Louise Liljedahl, Press
E-mail: louise.liljedahl@footway.com
Phone: 0736-40 93 50

8 january 2015

Mister Spex secures $40m investment

Mister Spex is Europe’s largest online optician and the investment will be used to support the Company’s domestic and international growth plans.

Read more (in English)

3 july 2014

eEquity sell its shares in WhiteAway, the leading player in selling whitegoods online, to Aktieselskabet af 10.6 i Danmark controlled by Anders Holch Povlsen owner of Bestseller generating a 4.5x multiple in return for eEquity

eEquity, the leading private equity company within internet retailing, carried out its first investment, of three in total, in WhiteAway Group A/S in December 2010. The company had at the time sales of DKK 150 million and an EBITDA of 6 million compared to sales of DKK 765 miljoner during 2013 and an EBITDA of 17 million. WhiteAway has today a runrate above DKK 1 billion in sales. Hvidevarer was founded by Johannes Gadsboll, Esben Gadsboll and Jesper Bang in 2003 at a small scale. Ib Norsholm engaged himself in the company in 2007 when the name was changed to WhiteAway. WhiteAway acquired Skousen 2011 and Lavpriskoekken 2012. The proportion of whitegoods being sold online is today approx. 20 percent in Denmark, 6 percent in Sweden and 2-3 percent in Norway. WhiteAway has today approx. 50 percent of the Danish online market and is growing organically by more than 100 percent yearly in Norway and Sweden.

By selling 28.1 percent of WhiteAway, eEquity realises a value equal to 88 percent of the total amount that the limited partners have invested in eEquity I and eEquity II.  The return, measured in multiple of the investment amounts to 4.5 in average for both funds with an average of both funds of 2.6 years. IRR amounts to 69 percent for eEquity I and 79 percent for eEquity II.

“This is our first larger exit in eEquity and we are very pleased and proud. We made a plan when we invested the first time to build a company with sales of DKK 1 billion in five years, which our runrate already exceeds after only 3.5 years” says Patrik Hedelin, responsible partner at eEquity. ”We also felt that our plan for increased product assortment, launch of two new markets, two add-on acquisitions in Skousen and Lavpriskoekken and implementation of our own private labels has been achieved and that the timing was right for us to sell. The value creation is mainly coming from migrating customers from offline to online that creates the foundation for strong organic growth in combination with strategic add-on acquisitions without any financial leverage”.

For additional information, please contact:

Patrik Hedelin, patrik@eequity.se or +46 70 545 2889

About eEquity

eEquity was founded in 2010 and has today become the leading private equity firm for investments within internet retailing, both concerning physical products and services. eEquity is working actively with its portfolio and is supporting the entrepreneurs in building more profitable and faster growing companies at lower risk by enhanced competence and an operational framework in order to build long term profitable companies. eEquity today has 10 portfolio companies and has five limited partners across Europe as investors. The company was founded by Magnus Wiberg and Patrik Hedelin. Magnus Wiberg previously co-founded Pricerunner and built it to become a leading price comparison site in Sweden and England and sold it ValueClick, listed on Nasdaq. Patrik Hedelin previously co-founded boo.com where Patrik was executive chairman with responsibility for the fund raising. Please visit www.eequity.se for more information.

About WhiteAway

WhiteAway is today leading in selling whitegods online in the Nordics. The company has it’s headquarter in Århus, Denmark with 85 employees. Sales are conducted online in Denmark, Norge and Sweden and through the franchise chain Skousen in Denmark. WhiteAway has since the start always experienced strong organic growth and profitability. WhiteAway sells approx.  4 000 whitegoods products from all large brands and three private label brands.

22 may 2014

Royal Design acquires RUM21 from CDON

Royal Design Group AB announces that it has entered into an agreement with CDON Group to transfer the entire business in Rum21 AB to Royal Design Group AB.

About Royal Design Group AB
Royal Design Group AB is Sweden’s leading e-commerce company through RoyalDesign.se with the greatest assortment within design, furniture, lighting and home furnishing. RoyalDesign.se has over 70 000 products from more than 180 world-famous brands within design and decor.

The company was founded in 1999 and currently has about 65 employees and a yearly turnover of 240 million.

Besides being one of the largest company’s for the home decor market online, Royal Design opened 7 physical stores during 2013, merging the online and offline businesses to enable a complete offering to the customers and the best from two worlds.

“Rum21 is a very well managed and rapidly expanding business, which fits perfectly into our strategy and vision of being the most complete and obvious interior design concept for design and furniture consumers across the Nordics and it will be very inspiring to develop both of these business areas in parallel. The two businesses RoyalDesign.se and Rum21.se will together be the market leader within design, furniture and home deco online, with an expected turnover this year of more than SEK 400 million.” says Hans Bengtsson, CEO Royal Design Group.

About Rum21 AB
Rum21 AB is an online store focused on the sale of interior design and design furniture, started in 2006 and acquired by CDON Group in 2011. Today Rum21 operates the Nordic internet stores Rum21.se, Room21.no, Room21.dk and Room21.fi. The company also has a large design shop in Borås.

For more information, please contact:

Hans Bengtsson, CEO
E-mail: hans.bengtsson@RoyalDesign.se
Phone: +46 (0) 708202965

21 may 2014

Caliroots acquires Hollywood!

May 19 is a milestone in streetwear, sneakers and skate in Sweden when Caliroots acquires the venerable chain Hollywood.

“A slightly younger and more action sports-oriented customer makes Hollywood a perfect match for Caliroots. Since Hollywood has had a strong history in retail and we use both the same platform and ERP, we see great synergies already in the short term” says Andreas Koschnike, founder and CEO of Caliroots.

Caliroots has been around for over 10 years and represents streetwear and sneakers online, as well as with 3 physical stores.

Hollywood has been Stockholm based since the early 70′s, but with today’s concept since 2004.
In addition to 4 stores in Sweden they also have an online store with a focus on Sweden and Norway.

The companies will continue to operate as separate companies and brands to begin with.

“It feels good to hand over the baton to Caliroots who have proved strong in a tough market. I am confident that they will do a good job going forward with the Hollywood brand” says Mattias Grönlund, owner and CEO of Hollywood.

Company information
Californian Roots AB
Founded by Andreas Koschnike and Per Norelll in 2003
Investors: eEquity and Verdane
Employees: ca 30 st
Estimated revenue current financial year: 120 MSEK

For inquiries, please contact: Andreas Koschnike, CEO

21 jan 2014

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.

28 nov 2013

Footway acquires key stake in competitor Brandos

More info to come.

6 nov 2013

RoyalDesign moves the central warehouse to Orrefors

Read more (in Swedish)