Swedish sneaker brand Axel Arigato has received a funding of €56m ($66m) from private equity firm Eurazeo Brands. This investment comes after Eurazeo Brands sold its stake in luxury fashion platform Farfetch. With this funding, Eurazeo Brands now becomes the majority shareholder of Axel Arigato, joining the founders Max Svärdh and Albin Johansson.

Founded in 2014 in Gothenburg, Axel Arigato has quickly gained popularity in the European premium sneaker market, with its revenue nearly tripling since 2016. The brand’s success can be attributed to its minimalist designs, superior quality, and sustainable approach. Axel Arigato products can be found worldwide through its webstore as well as luxury e-tailers such as Farfetch, MyTheresa, and Ssense. Additionally, the brand has several retail stores, including one in London’s prestigious West End.

Eurazeo Brands has plans to support and fuel the growth of Axel Arigato by investing in its digital capabilities, expanding its retail presence, and enhancing its sustainability positioning. CEO of Eurazeo Brands, Jill Granoff, believes that Axel Arigato is an innovative brand with a lot of potential in the premium sneaker market.

To read more about Axel Arigato’s funding and future plans, visit this article. For further information about the brand’s success in the European premium sneaker market, click here.