Altor acquires a minority stake in global fashion house Totême
Altor Fund V (“Altor”) has signed an agreement to acquire a minority stake in Totême and enter into a partnership with the founders and other existing shareholders. Altor will support the founders and the company on its continued international growth journey. The founders will remain as majority shareholders and continue in their current roles in the development of Totême.
Founded by Elin Kling and Karl Lindman in 2014 in New York City, Totême is a fast-growing fashion label in the modern luxury universe, widely known for their iconic uniforms. The company is headquartered in Stockholm with a strong Swedish heritage but with a true global presence. Sales are evenly split between Asia, North America and Europe, with a predominantly online presence via its own web shop and online retailers. The company has grown rapidly and reached sales of ca SEK 350m.
Elin Kling and Karl Lindman will continue in their current roles as Creative Director and Brand Director with the company. “Ever since the start, we’ve had a clear sense of who we are and where we’re going” say Totême’s founders, “It was important for us to find the right partner for the next chapter in our global growth journey, without compromizing our brand values. We firmly believe that Altor’s extensive experience in relation to technology, E-commerce and sustainability in key markets will strengthen our business, and we are looking forward to achieving the next phase of our journey at Totême with Altor.”
Altor has a track record of partnering with founder-led consumer brands to successfully support these companies on their international growth journeys. “We are very impressed by what Totême, the management team and the employees have achieved to date. Totême has been built to a global fashion brand focused on high quality products and slow fashion consumerism”, says Stefan Linder, Partner at Altor, “We are excited to partner with the visionary founders, Elin Kling and Karl Lindman, and the CEO Johanna Andersson to support their vision of developing a world class luxury fashion house”.
For more information, please contact:
Christina Budarkiewicz, PR Manager at Totême, christina@toteme-studio.com, +46 738 05 90 60
Tor Krusell, Head of Communications at Altor, tor.krusell@altor.com, +46 705 43 87 47
About Totême
Totême was founded in 2014 by Elin Kling and Karl Lindman. From the studio in Stockholm, the label creates ready-to-wear, shoes, bags and accessories. Totême explores the appeal of a modern uniform through distinct design cues, meticulous craftsmanship and methodic repetition. Pieces are subtly refined and tweaked over time for a well-curated wardrobe that transcends trends. Totême employs a digital-first and direct-to-consumer business model which is mixed with selected online retailers and department stores. With a strong emphasis on local context and the physical space, the label completes their digital presence with a growing number of Totême retail stores.
For more information visit toteme-studio.com
About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 75 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Aarke, Dustin, Helly Hansen, RevolutionRace and Rossignol.
For more information visit www.altor.com