Elly Pistol starts US expansion – closes funding round
Elly Pistol, the online fashion company dedicated to the digital generation, raises 2.4 MSEK from existing and new owners and at the same time announces the recruitment of Peter Lenerius as new CEO. Peter will be taking on the challenge of commencing Elly Pistol’s establishment in North America.
Elly Pistol is a digital street wear brand launched in 2015. The company was founded by Cecilia de Champs with the goal of creating non-seasonal products. Since its inception, the brand has received a lot of attention in social media and already has customers in over 40 countries.
“Our biggest market is still Sweden, as it is the only country we have actively marketed us so far, but thanks to our e-commerce and communication with our customers through digital channels, we see that the interest for our products in the US is growing rapidly, says Cecilia de Champs, founder of Elly Pistol.
In order to meet demand from North America, Elly Pistol has during the Spring signed agreements with key distributors in both the US and Canada. The deal with the major US agent The Park Showroom will take the brand out in stores across the country.
“We see it as a strength to be able to partner with a major player as the Park Showroom. Through this partnership, we get a network of re-sellers, marketing and the possibility of physical presence in this gigantic market. We also see increased demand from home retailers and now we feel we have such a strong digital platform and online presence that it’s time for us to meet our customers in more places, she continues.
Elly Pistol has now closed a follow-on financing round of 2.4 million kronor to be used for production to meet increased demand and marketing in the United States. Investors in the financing round include JNE Invest, as well as the entrepreneur and investor Fredrik Adolfsson.
As part of the company’s expansion, the company has also hired Peter Lenerius as new CEO.
“We are delighted that Peter joins us. His experience from fast-growing companies and internationalization will be a very important addition now when we are taking the next step in our journey, says Cecilia.
“Cecilia and the team have done a fantastic job of building Elly Pistol into a strong digital brand in Sweden. There is now a great opportunity to take the company to the next level with new sales channels and markets, where we see the highest potential for rapid growth in the USA,” said Peter Lenerius.
Peter comes from a position as Nordic CEO of the California surf and lifestyle brand Hang Ten and has previously been responsible for the internationalization of the Rehband sports brand, where he worked as a global CEO.
Elly Pistol participated in the Sting Accelerate program during Spring 2017.
About Elly Pistol
Elly Pistol is primarily known for its bomber jackets jackets in different colors seen frequently seen in social media and on influencers. The company has nearly 40,000 followers in its own Instagram account.
Cecilia de Champs, email@example.com