Axel Arigato to get Eurazeo as major shareholder in the company in a €56 million deal.

Axel Arigato, a Gothenburg, Sweden-based producer and seller of a premium sneaker, ready-to-wear and accessories brand, announced getting into a €56 million ($66M) deal for getting the French investor Eurazeo as major shareholder in the company.

Eurazeo, which made the deal through the Eurazeo Brands fund, will control the business together with founders Max Svärdh and Albin Johansson.

Axel Arigato, founded in 2014, is a digitally-native company operating in the European premium sneaker market. The company has revenue of about $40 million per year from selling merchandise under a contemporary fashion brand, creating an affordable footwear product with a couture quality.

Axel Arigato built a successful multi-channel distribution strategy with a strong direct-to-consumer foundation. Its products are distributed worldwide through its e-commerce website, major online marketplaces such as Farfetch, MyTheresa and Ssense, six Axel Arigato retail locations, and select prestige department stores such as Le Bon Marché, Harrod's and Saks Fifth Avenue.

Prior to this deal, Axel Arigato secured $7.5M in an investment round backed by Vaultier7, which now exits its equity position.