Auster Capital completes investment in oceansapart
Auster Fund I, managed by Auster Capital Limited, (Auster Capital) has completed an investment in Rise Up Fashion (oceansapart), the legal entity owning oceansapart #soulful clothing and entered into a partnership with the founders, management, existing owners and Altor Fund V (Altor).
The founders Susanna Wagner and Paul Engelmann will continue in their roles and remain significant shareholders alongside the new and existing shareholders.
Founded in 2018, oceansapart is the uniquely positioned non-competitive activewear apparel company serving a growing community focused on inclusivity and diversity rather than just sports performance. The activewear designs include leggings, bras, hoodies and activewear accessories targeting mainly female Gen Y and Gen Z customers. Headquartered in Berlin, the Company’s core market comprises the DACH region with recent entries into France, Italy, Poland and Spain. Its success is centred around clear product design, digital and influencer led marketing driven by a powerful analytics platform. The Company more than quadrupled its revenues in 2020 and has continued to grow in 2021.
“We have a clear vision to become the global activewear brand for the new generation. We are delighted to be partnering with our new shareholders Auster Capital and Altor as long-term partners and are excited to drive the internationalisation of oceansapart,” say Engelmann (CEO) and Wagner (CPO).
“We are very impressed by management team’s success in building oceansapart as a fast-growing data-driven business, and are confident to support its next stage of international growth. We are also delighted to share such vision with Altor and existing investors, and look forward to working with the management team in realising this potential,” says Jennifer Yu, Founder and CEO of Auster Capital.
“The partnership between founders, Auster Capital, Altor and existing investors brings together highly complementary skills and expertise to support oceansapart on its global growth trajectory going forward,” says Michael Xu, Partner of Auster Capital.
“The unique positioning with clear focus on inclusivity combined with strong direct-to-consumer and customer analytics expertise makes the Company a leader targeting consumers of the generations Y and Z. We look forward to supporting the team on their continued internationalisation and growth,” adds Tobias Habbig, Managing Director Europe of Auster Capital.