Sneaker brand ARKK Copenhagen receives multi-million dollar investment

ARKK Copenhagen, the Danish sneaker brand founded in 2014, has received a “multi-million dollar” investment in a series A deal with Friheden Invest and North-East Venture. The company said in a statement that it intends to use the capital to expand to new markets, including the United States, Canada, Australia and South Korea, until the end of the year.

”ARKK Copenhagen today sells more than 90 percent of its sneakers abroad, so we estimate that the potential is large. Their ambitious and talented team has already shown results we believe in", said Martin Lumbye, CEO of North-East Venture, which was founded by the same partners behind Danish jewelry brand Pandora. Currently, ARKK’s products are sold by retailers in 36 countries.

The Danish sneaker brand is best known for its “no-frills” style that pays homage to Danish minimalist architecture. ARKK reported an average sales growth of 256 percent last year.

The exact amount of the investment was not disclosed.

Pictures: ARKK Copenhagen Facebook