Norwegian contemporary fashion and lifestyle brand Holzweiler has secured the backing of Carnegie Investment Banking-backed venture capital firm Sequoia Capital China to accelerate its global ambitions.
The family-run label, founded in 2012 by siblings Andreas and Susanne Holzweiler, said the strategic partnership with Sequoia Capital China will accelerate and expand Holzweiler’s direct-to-consumer business internationally. The brand will leverage the new owner’s digital knowledge, global reach and resources to expand in key regions such as the UK, US and China.
The investment will also be used to expand the brick-and-mortar business with new retail stores, including a new flagship store opening in Copenhagen in October 2022 and the first store in London in Spring 2023. These will be added to the existing six stores, including the Multi-brand store in Holzweiler with a fashion, beauty and furniture concept.
In addition, the company will continue to expand its international wholesale network, which currently includes some of the world’s largest luxury retailers, including Net-A-Porter, Browns Fashion, Ssense, Neiman Marcus and Galeries Lafayette China, as well as a gourmet restaurant in the heart of Oslo.
Sequoia Capital China acquires majority stake in Holzweiler
Since its inception, Holzweiler has become synonymous with conscious action and material innovation and has quickly established itself as a cult brand in Scandinavia. Originally, the brand attracted attention with its silk, lambswool and cashmere scarf collections before switching to ready-to-wear in 2014.
The brand’s key categories include outerwear and knitwear, which have helped establish the brand internationally and have achieved significant growth of almost 60 percent per year over the past three years.
Financial terms of the deal were not disclosed. According to Holzweiler, Sequoia Capital China has acquired a majority stake in the label, while the Holzweiler family, including Andreas (Managing Director), Susanne (Chief Commercial Officer) and Maria (Creative Director), will retain a minority stake.
“We are incredibly proud to be working with the Sequoia China team – this is a milestone for us and marks the beginning of something of a ‘Holzweiler 2.0’,” the Holzweiler family said in a statement. “From the start, speaking with Sequoia China felt like a symbiosis – they understand exactly what we are trying to achieve: a careful balance of dynamic growth and sustained dynamism.”
Holzweiler wants to open a China flagship store in London in 2023 following an investment by Sequoia Capital
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 womenswear and accessories brand Destree.
“Holzweiler has a perfect blend of quality, design and a modern lifestyle approach. The company is exceptionally humble and reserved despite its incredibly dynamic business position,” added Angelica Cheung, Venture Partner at Sequoia Capital China.
“We believe it has a great opportunity to expand to other parts of the world, especially at a time when audiences value nature, outdoor time and human connection more than ever. Sequoia China will support the family with all our resources on this journey,” said Cheung.
The news of Sequoia Capital China’s investment comes just ahead of Holzweiler’s presentation of its most ambitious runway show to date during Copenhagen Fashion Week on August 10. For the project, Holzweiler will be collaborating with a range of next-generation creatives, including motion director Yagamoto, producer and sound engineer Yves Tomas, and stylist Celestine Cooney.
This translated article originally appeared on FashionUnited.uk.