Case Study


Business overview

  • NA-KD is a global fashion marketplace for the next generation, merging social media with e-commerce

  • NA-KD was founded by Jarno Vanhatapio, previous founder of Nelly, a Nordic online fashion player

  • NA-KD can best be compared with a digitalised Zara targeted at 18-25 year olds

  • Building the market with bloggers and social influencers with whom NA-KD develops collections with a revenue or profit split.

How we have built the company and enhanced the value

  • Moved from retailing other brands to selling nearly only private label

  • Continue the strong brand building through use of social media, high volume of influencers and PR

  • Localise the site in countries where demand is high, to enable paid marketing and SEO in own language

  • Larger focus on social merchant collections, learning from early mistakes by being better at analysing follower base loyalty and purchasing power
  • Data driven purchasing and inventory management to optimise supply after demand

  • Move of warehouse to continental Europe to enable faster delivery globally as well as constantly evaluating further warehouse locations and automation to when demand is large enough to support cost

  • Define the business processes and ensure sufficient IT support and establish a more proactive finance

  • Strengthen team with key recruitments

Many of our investment criteria were met when we invested in NA-KD:

Sales developments (SEKm)

Sales developments (SEKm)