Sir of Sweden acquires Frontmen, consolidates its position in the local men's fashion market.

Sir of Sweden, a Stockholm, Sweden-based company with long tradition in the fashion industry has purchased the majority shares of Frontmen. The financial details of the transaction remain undisclosed.

Sir of Sweden manufactures and sells, online and via physical stores, tailored clothes for men. The company is run by Mats Ljungström and was founded in 1925 by his grandfather. In 2016, it recorded sales of SEK 31M ($3.5M).

Frontmen, also Stockholm-based and led by CEO Oscar Arrsjö, was founded in 2007 as a curated fashion website for men, a mix between fashion magazine and online store. Frontmen received outside capital from Optimizer Invest and Wellstreet in 2016. After this transaction, Optimizer exists completely from the business, while Wellstreet keeps its ownership and board seat.