Swedish premium sneaker, ready-to-wear and accessories brand Axel Arigato has secured a 56 million euro investment from global investment firm Eurazeo.
Eurazeo will now be a majority shareholder, alongside Axel Arigato founders Max Svärdh and Albin Johansson.
“We are very proud of the company we've built so far. Axel Arigato has established a strong presence in the premium sneaker market and a strong connection with our customers, driven by our unique value proposition, diverse range of products and successful direct-to-consumer strategy,” Svärdh and Johansson said in a joint statement.
“Choosing the best partner for Axel Arigato was critical to continuing our momentum - Eurazeo's deep brand-building experience and international network are key to accelerating our growth.”
Founded in 2014 in Gothenburg, Sweden, Axel Arigato is a digitally-native company that has quickly made a name for itself in Europe’s premium sneaker market.
Eurazeo Brands CEO Jill Granoff commented: “We have targeted the high-end sneaker market due to the premiumization and casualization trends we are seeing globally and believe Axel Arigato is an innovative and high potential brand in this sector, relying on an authentic and contemporary designer-based approach.
“We are delighted to partner with Max and Albin, and we look forward to working with the company to accelerate its international growth, strengthen its digital platform and expand in retail - bringing this impressive brand to new customers worldwide.”
Last week, Eurazeo announced it had sold its entire stake in online fashion marketplace Farfetch. It had held shares in the company since 2016.
Photo credit: Axel Arigato