Eurazeo

The private equity firm will pour €56 million into the Swedish footwear-turned-lifestyle label after its online sales soared during the pandemic.

Eurazeo, which has been an investor in the luxury retailer since 2016, raised 90 million euros through the sale.

This week, Felicia Mayo, former head of diversity at Tesla, replaced Kellie Leonard in a similar role at the American sportswear giant.

This follows Eurazeo's sale of its entire 4.8 percent stake in Moncler for about €445 million.

Private equity firms typically seek scalable fashion brands that promise a speedy return on investment. The results can be disastrous or magnificent, depending on the case.