Stayhard-founder sells majority to Ellos Group

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The swedish e-fashion gazelle has a new owner, The Ellos Group.
Ellos buys 70 procent of the company from founder Joakim Naumburg.

Stayhard, founded in 2005, sells men’s fashion and has been a comet since then. But profit has decreased significantly and the turnover growth slowed down last year, for 2013 it is 103 million SEK (not official yet) compared to 101 million 2012. As late as January this year Naumburg said the goal was to reach a billion in turnover.
Whether that is a reason for Joakim Naumburg to sell the majority of his company is not clear.
Joakim Naumburg, who has been the sole owner will after the transaction own 30% of shares of Stayhard and will continue as CEO of the business.
The deal means that Ellos Group next to their brands Ellos and Jotex adds a purely business for fashion conscious men. With the acquisition of Stayhard Ellos Group strengthens its pole position in Scandinavian ecommerce.
“Stayhard has proven its ability to create attractive own brands and has established itself as the clear number one in a growing fashion market for men online. We see great potential for Stayhard and look forward to developing the business together with Joakim and his team”, comments Anders Halvarsson, Chairman of Ellos Group.
“Ellos Group is the player that I think has the best chance to support Stayhards continued development. It is an owner with clear e-commerce focus and has the strongest Nordic platform for logistics andIT for e-commerce”, says Joakim Naumburg.