RTL Ventures and Happy Investments, the investment company of internet entrepreneur Laurens Groenendijk, has announced that, in exchange for their share in Miinto Benelux and an additional cash investment, they are acquiring a minority share in Miinto Holding. An endorsement showing the outside world that RTL believes in the Miinto concept.

Miinto Holding entered the Dutch online fashion market in the autumn of 2012. For the launch of the platform on the Dutch market, the Scandinavian company set up a separate company in partnership with RTL Ventures and Laurens Groenendijk (Miinto Benelux). From this new venture, the partners launched the online fashion site Miinto.nl.

Miinto is still experiencing growth across all markets. Compared to 2014, Miinto’s revenue has risen by 13 percent and the number of orders to the boutiques has increased from 489.000 orders in 2014 to a total of 550.000 orders in 2015.

 

The financial statements for 2015 are the result of a major turnaround, which was launched in 2013. After several years of rapid expansion, there has been a need to trim Miinto’s costs and focus on the most profitable parts of the business. An initiative involving large reductions in costs and massive investments in marketing and IT – investments that Miinto now is beginning to see the benefits of.

“I am very pleased with Miinto’s progress. It has been crucial for us that the growth is healthy and that our business is equipped for future further growth. It provides a strong foundation to build on in 2016.” – Konrad Kierklo, CEO and co-founder of Miinto.

 

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Miinto has had a strong year in 2015. The fashion sale in Q4 has increased by 32 percent compared with the previous year and Miinto’s total sales rose by 16 percent from 2014 to 2015. This emphasizes Miinto’s significant position in the market of online fashion. And sales are expected to rise further in 2016. More customers, more brands and more shops. These three parameters contribute to the continued growth of Miinto in Denmark, Norway, Sweden, and the Netherlands.

 

Miinto has shown a solid increase in sale in 2015. Growth was particularly high in Q4 2015 compared to the previous year with a total increase of 32 percent. Total revenue for Miinto across the four markets amounts to 337.5 million DKK in 2015. This corresponds to an increase of 16 percent from 2014, when sales reached 290 million DKK, and it gives a positive bottom line to the fashion company.

 

Download full press release (DK)

Six years ago, Konrad Kierklo co-founded the online success Miinto. Now, he is featured on Forbes’ list ’30 Under 30 2016′ in the category Retail and eCommerce endorsing the brightest young entrepreneurs.

CEO and co-founder Konrad Kierklo is proud of the fact that the concept is also known outside of Scandinavia: “It is a great recognition to be on Forbes’ list. Both for me personally and for the entire team, which every day puts a lot of work in Miinto. It is thanks to them that we are where we are today. I hope that the positive attention will help shed some light on Miinto, as we are in an exciting phase of growth where we both need new talents and experienced people. The most important thing for Miinto’s future growth is to have the right people in the right positions, “says Konrad Kierklo.

 

Download full press release (DK)