Boozt.com, the Nordic fashion e-commerce company, raises DKK 200M
Sampension, Friheden Invest and a group of current shareholders invest DKK 200 million in ecommerce company BZT Fashion, which owns and operates Boozt.com. The capital injection strengthens the company’s growth opportunities in the attractive e-commerce market for adult and children’s clothes in the mid and premium segments.
Boozt.com is the fastest growing fashion e-commerce company in the Nordics with an annual revenue growth of around 70% since 2011 and a strategic goal of being among the three largest players in the market. In 2015, revenue is expected to exceed SEK 1 billion with a positive result.
“Boozt.com has a skilled management team and a platform that can make the company a significant player within fashion in the Nordics. They have simultaneously established good processes and systems to the benefit of customers. That is why we have chosen to invest in the company,” said Niels Martinsen, Friheden Invest.
“Boozt.com is a well-run company with an experienced management, which has been able to exploit the opportunities within online fashion. We have been following Boozt.com for a number of years through our cooperation with Sunstone Capital, and we consider Boozt.com a long-term investment in our portfolio of unlisted companies. A strong foundation for continued growth has been laid,” said Bjørn Kroghsbo, Senior Portfolio Manager at Sampension.
The group of owners now include, among others, Sunstone Capital, Verdane Capital VII, ECCO Holding, Sampension, Friheden Invest and the company’s management. A number of the current shareholders have chosen to take part in the capital increase.
”We are pleased to welcome Sampension and Friheden Invest as new investors in the company, and we are looking forward to continuing the growth, creating a profitable business and meet both their and our expectations,” said Hermann Haraldsson, CEO at BZT Fashion and Boozt.com.
Venture fund Sunstone Capital has been a shareholder since 2009.
”We have been following closely how the company has grown from a one-digit million revenue business to a billion revenue business. The great interest for Boozt.com in relation to the capital increase confirms that a strong and valuable company has been created,” said Jimmy Fussing Nielsen, Managing Partner at Sunstone Capital.
Boozt.com has more than 300 strong brands in its portfolio of clothing, shoes, bags and accessories. The market for online fashion grows by 15-20% annually, and Boozt.com expects to see significant consolidation in the sector in the coming years.
”We offer a large and yet manageable selection of the leading brands – and we make it easy and safe to shop online. It is clear from our sales and testimonials that our offering is valued by consumers. That provides us with a solid foundation for continuing the company’s rapid and profitable growth,” said Hermann Haraldsson, CEO at BZT Fashion and Boozt.com.
About Boozt.com (BZT Fashion)
Boozt.com sells fashion wear, shoes and accessories online. The company offers more than 300 leading fashion brands. Boozt.com is owned by BZT Fashion, which also operates e-commerce solutions in Europe for ECCO and Day Birger & Mikkelsen. BZT Fashion manages all processes in e-commerce – front-end, back-end, logistics and warehousing, payments and customer service. The company is located in the Oresund region with Danish management, approximately 140 employees at its headquarters in Malmö and approximately 100 employees at the warehouse in Ängelholm. Currently, 24 nationalities are represented among the company’s staff. The company is owned by, among others, Sunstone Capital, Verdane Capital VII, ECCO Holding, Sampension, Friheden Invest and the company’s management.
Source: BZT Fashion Press Release