Caliroots was acquired by Footway.

Caliroots, a Stockholm, Sweden-based fashion retailer, announced that it was acquired by the local retailer, also based in Stockholm, Footway.

The financial details of the transaction were not disclosed.

Caliroots - Californian Roots AB - founded in 2004 by CEO Andreas Koschnike, developed an ecommerce operation selling fashion items including streetwear and sneakers.

Caliroots has been undergoing a corporate reorganization since 23 April 2020. The acquisition takes place as a transfer of assets of Caliroot's brands, domains and inventories. Access will take place within two weeks. The acquisition is financed through own funds.

Caliroots previously raised about $12 million from investors including angels Arthur Engel, Cristina Stenbeck, Verdane Capital and eEquity. Footway is also owned by eEquity, together with Industrifonden and Northzone.