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Holzweiler secures significant investment from Sequoia Capital China

By Danielle Wightman-Stone

8 Aug 2022

Business

Image: Holzweiler; Photographed by Ignat Wiig for Vogue Scandanavia

Contemporary Norwegian fashion and lifestyle brand Holzweiler has secured backing from venture firm Sequoia Capital China, supported by Carnegie Investment Banking, to help accelerate its global ambitions.

The family-run label, founded in 2012 by siblings Andreas and Susanne Holzweiler, said that the strategic partnership with Sequoia Capital China would accelerate and up-scale Holzweiler’s direct-to-consumer business internationally. The brand will utilise its new owner’s digital knowledge, global reach and resources to expand in key territories including the UK, US and China.

The investment will also be used to expand its bricks-and-mortar business with new physical retail experiences, including a new flagship opening in Copenhagen in October 2022 and its first London outpost in spring 2023. These will add to its existing six stores, including the fashion, beauty and furniture concept-store Holzweiler multibrand store.

It will also continue to build up its international wholesale network, which currently comprises some of the biggest luxury retailers in the world, including Net-A-Porter, Browns Fashion, Ssense, Neiman Marcus, and Galeries Lafayette China, and a fine-dining restaurant in the heart of Oslo.

Sequoia Capital China acquires majority stake in Holzweiler

Image: Holzweiler AW22

Since its launch, Holzweiler has become synonymous with conscious practice and material innovation and has quickly established itself as a cult favourite in Scandinavia. Originally gaining attention with its silk, lambswool and cashmere scarf collections, the brand expanded to ready-to-wear in 2014.

Key categories for the brand include outerwear and knitwear, which have helped establish the brand international and contributed to its significant growth over the past three years of nearly 60 percent revenue CAGR.

The financial terms of the deal were not disclosed, Holzweiler said that while Sequoia Capital China have acquired a majority stake in the label, the Holzweiler family, including Andreas (chief executive), Susanne (chief commercial officer) and Maria (creative director) will retain a minority stake.

“We're incredibly proud to partner with the team at Sequoia China - this is a milestone moment for us and marks the beginning of a kind of 'Holzweiler 2.0,’ said the Holzweiler family in a statement. “From the outset, the conversation with Sequoia China felt symbiotic - they intrinsically understand what we're trying to achieve: a careful balance of vibrant growth and sustainable momentum."

Holzweiler to open London flagship in 2023 following investment from Sequoia Capital China

Image: Holzweiler AW22

Holzweiler will join Sequoia Capital China’s fashion portfolio, which includes Parisian brand Ami and South Korean contemporary brand We11done, as well as luxury e-commerce company Ssense and Parisian women's ready-to-wear and accessories brand Destree.

Angelica Cheung, venture partner at Sequoia Capital China, added: "Holzweiler has a perfect mixture of quality, design, and a modern lifestyle approach. They have been exceptionally humble and understated; despite their incredibly dynamic business position.

“We believe they have a huge opportunity to expand to other parts of the world, especially at a time when audiences value nature, the outdoors and human connection more than ever before. Sequoia China will be supporting the family - with all our resources - along the way.”

The news of Sequoia Capital China’s investment comes ahead of Holzweiler showcasing its most ambitious catwalk show to date during Copenhagen Fashion Week on August 10. The project will see Holzweiler collaborating with a vibrant line-up of next-generation creatives, including movement director Yagamoto, producer and recording artist Yves Tomas, and stylist Celestine Cooney.

Image: Holzweiler AW22
Holzweiler
Sequoia Capital China