Sweden’s NA-KD said it has raised 40 million euros from Ernström & Co and its existing shareholders for expansion to new markets and business areas.

NA-KD saw its sales almost tripling in 2020 to 2 billion crowns from around 700 million a year before, and it almost reached full-year profitability.

“In 2021, NA-KD will continue to invest and focus on new markets, new categories and a new business area within circular fashion will be launched shortly,” it said in a statement.

“The primary reason we are conducting this capital round is to continue investing in sustainability, new categories and new markets.”

NA-KD founder Jarno Vanhatapio

“We are proud and happy to welcome such a reputable and established investor as Ernström & Co into NA-KD. Their long-term investment philosophy and solid way of looking at building companies is something that we have chosen to reward in a plethora of different possibilities,” Vanhatapio said. “Their character as a family-owned investment company complements our existing owners well and makes NA-KD even stronger.”

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