Sunstone and Verdane’s Boozt.com raises further DKK 200m

Although BZT Fashion is known mainly as the owner and operator of Boozt.com, it also provides e-commerce platforms for other fashion brands.

In addition to the two new investors, the round also included existing backers Sunstone and Verdane – via its Verdane Capital VII fund – as well as Ecco Holding and the company's management.

The round saw BZT backed by Friheden Invest – the investment vehicle for the founder of apparel business IC Group, which owns premium fashion brands such as Tiger of Sweden and and Peak Performance.

With the latest capital injection, BZT has raised around DKK 350m to date.

Previous funding
BZT first received VC backing in 2009, when Sunstone Capital invested €2m in the company.

The holding company and investment vehicle for the founders of Ecco Shoes, Ecco Holding, invested DKK 82m alongside Sunstone in 2011, with Ecco becoming the largest single shareholder in BZT.

The following year, the company raised DKK 45m from Verdane Capital through the VC's Verdane Capital VII fund.

Company
Founded in 2009, BZT Fashion owns and operates Nordic online fashion retailer Boozt.com, which has 300 brands in its portfolio of clothing, shoes, bags and accessories.

BZT also provides e-commerce platforms and operations in Europe for Ecco, as well as Day Birger & Mikkelsen (an IC Group brand). The company manages all processes in e-commerce, including front-end, back-end, logistics and warehousing, payments and customer service.

The company operates mainly in the Nordic region and claims revenue growth of around 70% since 2011, with expected revenues of more than SEK 1bn this year.

BZT is headquartered in Malmö, which is located in the Oresund region near Copenhagen, and has a Danish management team. It employs around 140 people at its head office and approximately 100 at its warehouse in Ängelholm.

People
Sampension senior portfolio manager Bjørn Kroghsbo led the deal for the pension fund, alongside Friheden Invest's Niels Martinsen. Sunstone Capital managing partner Jimmy Fussing Nielsen represented the VC. Hermann Haraldsson is the CEO of BZT Fashion.

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• Topics
• Nordics
• Consumer
• Expansion
• Sweden
• Verdane Capital Partners
• Sunstone Capital A/S