Clearwater International has advised the shareholders of &tradition on its sale to HAY – a Danish designer and manufacturer of contemporary furniture, accessories and rugs – and Anders Holch Povlsen, CEO of fashion chain Bestseller.
Established in 2010, &tradition is a Danish lighting, furniture and accessories design company. The business is known for its unique combination of classics by iconic Danish designers, and new designs created in collaboration with internationally renowned names such as Jaime Hayon and Luca Nichetto.
&tradition products are retailed in high-end stores and it has secured contracts in more than 50 countries worldwide.
Andreas Lauth, partner, Clearwater International, says: “In a short time period, Martin K. Hansen (&tradition director) has built a high-end design brand, differentiating itself from the New Nordic fashion trend by launching high-end, classic and less fashion driven products by leading designers. In HAY and Anders Holch Povlsen, Martin has found the perfect partners to preserve the high growth rates. At the same time, the constellation secures significant sourcing synergies from the very get-go.”
