Morris Stockholm gets funding from Holta Invest.
Morris Stockholm, a Borås, Sweden-headquartered company managing a fashion retail operation, announced getting into an investment agreement with Holta Invest, which becomes a major shareholder in the company.
Both Holta and JM Alsén Design AB, the company managing the brand, will add capital investment, with the latter settling for 40% of the equity.
The financial details of the transaction remain undisclosed and the funds will be used to expand the online operations and thier scope within Scandinavia.
Morris Stockholm, created by Jan Alsén in 2004, is a designer brand for the affordable luxury‑market. The company operates a physical location in Stockholm and started to develop its ecommerce business and in 2017 it was profitable, at a SEK 160M ($18M) turnover.