RNB acquires the e-commerce player Frontmen.com
The retail group RNB is increasing its focus on the digital development and acquires Frontmen.com.
RNB launched Man of a kind one year ago, an e-commerce destination with focus on exclusive men’s fashion. This as part of the group’s strategy to develop the digital sales channels. Frontmen.com, an established online player within men’s fashion, is now being acquired. Frontmen was founded in 2008 by the fashion profile Oscar Arrsjö whom together with Mats Ljungström, Erik Paulsson’s company Backahill, and the private equity firm Wellstreet owns this business through the company Fashionisland Sverige AB.
- This acquisition is a perfect fit for our strategy and increases our focus on becoming the destination for exclusive men’s fashion online. Frontmen is a pioneer within the men’s fashion segment online with a holistic concept that covers a strong assortment mixed with inspiring content, says Marcus Uggla, General Manager for Man of a kind.
Fashionisland Sverige AB divests Frontmen in an asset transfer. The consideration is partly based on sales generated by the acquisition during the first 18 months. The acquisition is consolidated as of November 1, 2017.
This information is information that RNB RETAIL AND BRANDS AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, on October 12, 2017 at 07.20 a.m CET.
For further information, please contact:
Magnus Håkansson, CEO, RNB RETAIL AND BRANDS AB
46 8 410 520 02, 46 768 87 20 02, e-mail: magnus.hakansson@rnb.se
RNB RETAIL AND BRANDS owns, operates and develops fashion, clothing, accessories, jewelry and cosmetics stores that focus on providing excellent service and a world-class shopping experience. Sales are mainly conducted in Scandinavia through the store concepts Brothers and Polarn O. Pyret, as well as through shops in the department stores NK in Stockholm and Gothenburg. RNB RETAIL AND BRANDS has operations in 10 countries. RNB RETAIL AND BRANDS has been listed on the Nasdaq Stockholm Exchange since 2001.
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