The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Stockholm-based fashion and accessories label, founded by influencer Elin Kling and her husband Karl Lindman, will use the partnership to support the brand’s international growth plans.
The fund, which predominately invests in mid-sized Nordic companies, will support the founders as they remain majority shareholders. Kling and Lindman will continue as creative director and brand director after the acquisition.
Altor has previous experience in supporting brands’ international growth: It has previously partnered with founder-led consumer brands including outerwear clothing brand Helly Hansen. Totême, which sells both via direct-to-consumer as well as in online retailers and department stores, already sells in Asia, North America and Europe.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.