Frontmen gets bought by RNB Retail and Brands
RNB Retail and Brands, a Stockholm, Sweden-based company that owns, operates and develops fashion, clothing, accessories, jewelry and cosmetics stores, announced the acquisition of Frontmen, an online shop for men's fashion. The financial details of the transaction remain undisclosed.
RNB will integrate Frontmen in its recently launched Man of a kind intiative, 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 was founded in 2008 by 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. Frontmen was acquired by Sir of Sweden to consolidates its position in the local men's fashion market in a deal that bought out the existing investor, Optimizer Invest.
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.