As part of its global expansion plan, Norwegian fashion and lifestyle brand Holzweiler has secured venture capital backing from Sequoia Capital China and Carnegie Investment Banking.
Holzweiler announced that the partnership with Sequoia Capital China would accelerate and scale its direct-to-consumer business globally. Through its new owner’s digital experience, global reach, and resources, the brand will expand in key territories, such as the UK, US, and China.
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It will also make use of the investment to expand its brick-and-mortar business, including launching its first London outpost in spring 2023 and a new flagship in Copenhagen in October 2022. The new stores will add to the company’s existing six, which include the fashion, beauty, and furniture multibrand store.
In addition, it will continue to expand its international wholesale network, which includes Net-A-Porter, Browns Fashion, Ssense, Neiman Marcus and Galeries Lafayette China, as well as a fine-dining restaurant in Oslo.
Holzweiler was founded in 2012 by siblings Andreas and Susanne Holzweiler. It established itself as a cult favourite in Scandinavia, and now represents conscious practice and material innovation. With its silk, lambswool, and cashmere scarf collections, the brand expanded into ready-to-wear in 2014. Outerwear and knitwear are key categories for the brand, which helped establish it internationally and contributed to its nearly 60 percent revenue growth in the past three years.
With Sequoia Capital China holding a majority stake in the label, Holzweiler’s Chief Executive Officer Andreas Holzweiler, Chief Commercial Officer Susanne Holzweiler, and Creative Director Maria Skappel Holzweiler will retain a minority stake in the label.
Sequoia Capital China’s fashion portfolio includes Parisian brand Ami, South Korean contemporary brand We11done, as well as luxury e-commerce company Ssense and Parisian women’s ready-to-wear and accessories brand Destree.
Having analyzed Holzweiler’s position, Sequoia Capital China’s Venture Partner Angelica Cheung claims that “despite their incredibly dynamic business position, Holzweiler has been exceptionally humble and understated”.
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On August 10, Holzweiler will debut its most ambitious catwalk show to date during Copenhagen Fashion Week. A vibrant line-up of next-generation creatives will work on the project, including movement director Yagamoto, producer and recording artist Yves Tomas, and stylist Celestine Cooney.