Polaris acquires 51 per cent stake in e-commerce operator Stronger
Polaris has acquired 51 per cent of the fast-growing e-commerce operator, Stronger, a Sweden-based lifestyle brand making activewear for customers in over 100 countries.
Through this partnership, Polaris will now join Stronger’s founders and leadership team, to support the company’s continued growth journey.
Since its inception in 2014, Stronger has grown to become a leading brand within the global fitness and leisurewear market, with rapid, profitable growth and sales exceeding SEK300 million in 2020.
Stronger’s ”Direct to Consumer” (DTC) e-commerce model enables the company to build strong relationships with its customers through its own brand and channels, which has resulted in a loyal community of customers in over 100 markets. Its business model, which allows for rapid expansion at a low cost and with a high degree of flexibility, ensures that marketing resources can be distributed and shifted to priority markets with ease.
"Stronger is a well-managed and profitable growth company, and we are impressed with what the founders and management have built; a well-thought-out business model and brand - which has led to the tremendous development of the company. Stronger operates in an attractive growth market driven by an increased focus on health and fitness, and we see great potential for further growth - primarily through continued international expansion. We look forward to supporting the founders and leadership team with our team’s experience in building long term successful companies," says Johan Pernvi, Partner at Polaris.
Stronger is headquartered in Stockholm and entered into 2021 with a team of 40 employees. In 2020, the company delivered more than half a million leggings to customers across the globe, with 60 per cent of sales coming from outside its home market Sweden. At present, Germany and Benelux are Stronger’s largest markets outside of Sweden, with the UK and US being among its fastest-growing markets.
”Through organic growth we’ve built a fantastic brand with a clear vision. Polaris will be a great addition, where they will complement us in our continued work to inspire women to activate themselves in their daily life. Together, we feel confident that we can execute on our ambitious growth plan with our celebrated products,” says Henrik Grundén, co-founder of Stronger.
“Entering into this next phase together with Polaris as our partner is incredibly exciting and brings invaluable expertise and experience to our fast-growing team. Together, we will continue our work to develop the business through globalisation, value-driven influencer marketing, and an offering that covers the needs of our customers, both during and after exercise. With the growth-focused mindset of our brilliant team, the ongoing recruitment of new talent, and a brand that is constantly enhanced through customer-led insights, we will be able to reach our goal of 100 million EUR annual turnover within the near future,” says Annica Rantala, CEO of Stronger.