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.

BoF can exclusively reveal that fashion e-commerce platform Farfetch has closed a $110 million Series F round, led by new investors Temasek, IDG Capital Partners and Eurazeo.

The Savigny Luxury index (“SLI”) continued its descent in December, falling over 6 percent, losing more ground to the MSCI World Index (“MSCI”) which fell just over 5 percent.

The Savigny Luxury Index (“SLI”) ended the month of May up shy of one percent after a bumpy ride, whilst the MSCI World Index (“MSCI”) climbed two percent.