In 2003, Jarno Vanhatapio founded Nelly.com, Scandinavia’s biggest fashion retailer online, and ran it during ten years. Now, Vanhatapio is focusing on his new global fashion business NA-KD.com and therefore buys the Malmö-based online store Country-Dreams.
“NA-KD.com acquires the company because it fits well into our diversified fashion industry and it will kick-start our operational activities. We also believe that Country-Dreams is a “diamond in the rough” that we can start to scale upwards with a well-balanced profit margin” says Jarno Vanhatapio.
Since 2008, Anna Weinberg has run Country-Dreams. When she bought the company, it was close to bankruptcy, but as Weinberg took over sales has grown every year. Last year, Country-Dreams had a turnover of € 1.7 millions and an operating profit (before tax) of around € 470 000. Today, Country-Dreams is one of Sweden’s most profitable fashion companies online.
”I decided to sell Country-Dreams when Jarno contacted me. The timeing was good: Country-Dreams needed funding in order to grow. I believe that his experience will benefit the company” says Anna Weinberg.
Anna Weinberg will resign as CEO of the company, but remain operational during a transition phase. The plan for Country-Dreams is to maintain the brand and run the store as a subsidiary of NA-KD.com. Synergy effects arise both in the purchasing department and by the move of the warehouse to NA-KD.com in Borås, Sweden. In the future, an international launch is planned.
“We believe that the Country Dreams, together with NA-KD.com, has a great future in the fashion industry and we look forward to many fun and successful year together with customers and suppliers” says Anna Weinberg.
img class=”alignright size-full wp-image-44964″ title=”oresund-startups-loggo” src=”http://arcticstartup.com/wp-content/uploads/2013/12/oresund-startups-loggo1-e1385989414219.jpg” alt=”” width=”270″ height=”52″ />This article is in collaboration with Øresund Startups, originally by Louisa Rabaeus. Øresund Startups is a news site focusing on startups in Copenhagen and the other cities around the Øresund strait; Malmö, Helsingborg and Lund. It was initiated by Karsten Deppert and covers news about startups and events from the startup scene. You can follow them at @Oresundstartups.