News. 04/10/21

Procuritas’ Polarn O. Pyret appoints new Chairperson

Procuritas Capital Investors VI (“Procuritas”), the private equity investor focused on investing in and growing Nordic mid-market companies, today announces that it has appointed Arja Taaveniku as the new Chairperson of its portfolio company Polarn O. Pyret, the iconic Swedish children’s clothing brand.

Arja joins with extensive experience from her long career in international retail with companies such as IKEA and Kingfisher. She currently serves on the Boards of Dunelm plc, Nobia Group, and Handelsbanken Group and is Chairman of the Board of Svenska Handelsfastigheter. As well as working in various roles at IKEA and Kingfisher, she was CEO of Ikano Group, an international group with activities in banking, real estate, insurance, and retail..

With its passion for growing strong sustainable businesses, Procuritas seeks to accelerate the development of Polarn O. Pyret through transforming and digitalizing its omnichannel business. At the same time it is strengthening Polarn’s leading position in top-quality clothing that can be passed on or sold second hand to new users when outgrown. The new Fall 2021 collections have received overwhelmingly positive customer feedback with August sales increasing almost 50% year-on-year.

“We are delighted to have appointed someone with Arja’s calibre to chair Polarn O. Pyret. This is a testimony to Polarn’s fantastic brand and important quest to push the boundaries for what is real sustainability in the clothing industry. As we see it, slow fashion and quality is the inevitable solution to today’s unsustainable consumption. We look forward to continuing to build the business over the coming years,” commented Johan Conradsson, Co-Managing Partner, Procuritas.

Arja Taaveniku, Chair of Polarn O Pyret, commented, “I look forward to working with Procuritas and the team at Polarn O. Pyret to develop the market for high quality children’s clothing in a rapidly changing retail environment, as well as growing the international footprint and reputation of the company.”

For further information, please contact:

Procuritas
Johan Conradsson
+46 8 506 143 00
johan.conradsson@procuritas.com

Media – Kepler Communications
Charlotte Balbirnie

+44 7989 528421
CBalbirnie@keplercomms.com

Caroline Villiers
+44 7808 585184
CVilliers@keplercomms.com

About Procuritas
Procuritas is a mid-market Nordic private equity investor, building up niche market-leading companies through transformative growth in service industry consolidations, digital consumer businesses, software and select industrial sectors.  As the longest-established private equity firm in the Nordics with a 35-year track record, Procuritas has carefully invested in more than 45 companies, accelerating their growth and helping them to realize their true business potential. The long-serving team is characterised by its passion for business, hands-on experience, enthusiasm, commitment to ESG-linked value creation initiatives and strong belief that they are allies in the quest to build strong and sustainable businesses.  Read more at www.procuritas.com.

About Polarn O. Pyret
Polarn O. Pyret is a Swedish brand for baby and childrenswear that started in 1976 with the goal of making clothes that let kids be kids. After 45 years they can proudly call themselves a leading brand for high-quality kids wear in the Nordics, and their products are sold in several markets around the world. They produce clothes that are made to last and to be worn, loved, and washed repeatedly and to be handed down to the next child, they call this design that lasts. The company is headquartered in Stockholm, Sweden, and has approximately 450 employees. Annual revenues were 601 MSEK in FY19/20. Please visit www.polarnopyret.com for more information about the company.

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