The company is headquartered in Norrköping where it was founded, but they also have an office in Stockholm. The brand sells fashion tech accessories via own e-commerce and retailers globally.
iDeal of Sweden was founded in 2013 by Joachim Lindström and Filip Ummer, both with experience from the telecom sector and a clear vision for the future trends of smartphone use
iDeal sells fashion tech accessories via own e-commerce, concept stores and leading wholesale partners
eEquity was impressed by iDeal’s innovative use of social marketing as a go-to-market methodology with a data-driven approach to influencer marketing, a framework with which other eEquity portfolio companies have subsequently benefitted greatly
In iDeal, eEquity found a pioneer in the vast market of fashion tech accessories, an attractive and fast-growing intersection of technology and personal expression. With only 25% of sales from own e-commerce at entry, eEquity recognised a significant opportunity for online expansion enabled by the eEquity toolbox (successfully reaching over 75% e-com share during the holding period)
COVID-related market lockdowns have negatively impacted iDeal’s omni-channel approach, fashion accessories segment and product strategy, resulting in a (6%) LTM revenue decline in Q3’21. eEquity is expecting bounce-back as retail channels reopen and fashion segments recover in key markets