Case Study

iDeal of Sweden

iDeal of Sweden was founded by Joachim Lindström and Filip Ummer in 2013, both have experience from the telecom sector.

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.

Business overview

  • iDeal of Sweden, most famous for its on-trend mobile covers, sells fashion tech accessories including chargers, wallets, clutches, and ring-mounts
  • iDeal of Sweden has 20+ localised websites and the products are available through >10,000 retailers across >100 countries worldwide
  • The products are sold via e-commerce, wholesale and trough own concept stores
  • iDeal is driving innovation in social marketing, using social as a strategic go-to-market methodology and taking a data-driven approach to influencer marketing

Key achievements

  • Tapping into two huge markets, USD 80bn market for mobile accessories and USD 1,8tn for fashion and accessories, quickly establishing the brand as a pioneer in fashion tech accessories with 14 product categories and >1,000 SKUs
  • Building a strong consumer brand, highly visible across all social media channels with close collaborations with relevant macros and micro influencers in key markets
  • Shifting to a strong D2C proposition with >60% of sales via own channels today whereas only 25% of sales were from e-commerce three years ago
  • Global presence with 20+ localised websites and a network of >10,000 retailers
  • Optimisation of customer acquisition, online marketing, supply chain and processes by quickly implementing best practices from eEquity’s other portfolio companies
  • Development of business infrastructure, building a highly data driven organisation lead by a strong leadership team
  • In Jun-19, eEquity sold 60% of its holding in iDeal after 2 years, generating 5.0x of its invested capital and with potential to earn 9.4x if full earn-out is achieved (after transaction costs)

Many of our investment criteria were met when we invested in iDeal

Historic sales development

Rolling LTM EBITDA since acquisition (SEKm)