Stayhard: A leading online store for fashion-conscious men in Sweden
"We are pleased to add a new company to the group through Stayhard. Stayhard has proven its ability to create attractive own brands and has established itself as a clear leader in a growing fashion market for men online. Growth has always been profitable, which is extraordinarily impressive. We see great potential for Stayhard and look forward to developing the business together with Joakim and his team."
Anders Halvarsson, Chairman of the Board of Ellos Group
Solid business based on a favourable mix of external and private label brands
Since its inception in 2005, Stayhard has established itself as the leading online store for fashion-conscious men in Sweden: Starting from a 15 sqm room, the Company has since enjoyed an impressive track record of self-funded, profitable growth.
It was founded by fashion enthusiasts and entrepreneurs Daniel Möller and Joakim Naumburg, who got the triggering idea when visiting New York and seeing clothes different to anything they had seen at home.
Today, Stayhard offers a wide range of clothing, accessories, shoes, grooming products and training gear from external and private label brands.
The company employs around 30 people and achieved sales of around EUR 12m in 2013.
Building the group further with a strong online destination for men’s fashion
Ellos Group, backed by Nordic Capital, is one of the leading e-commerce and home shopping companies in the Nordics.
The company is headquartered in Borås (Sweden) and has operations in all Nordic countries as well as in Russia, employing around 800 staffed and generating sales of c. EUR 260m in 2013.
The transaction will allow Stayhard to leverage Ellos’ platform and expand its business activities in the Nordic markets, while Ellos will also expand its portfolio by adding Jotex, the fashion-conscious men brand.
Stella EOC acted as sole advisor to the buyer.