A strong concept, healthy growth, and unique technological solutions have drawn the attention of the fashion industry to the Danish fashion platform Miinto. One of them is the owner of Bestseller Anders Holch Povlsen, who is now making a double-digit million euro investment in the company. The ambitions are big and Miinto is looking forward to taking the next step.
In January, CEO and co-founder of Miinto, Konrad A. Kierklo, was highlighted by Forbes on the talent list “30 under 30” in the category Retail & E-Commerce. The multi-million investment in the 7-year-old company marks yet another big event to celebrate in his relatively short career as an entrepreneur.
Great news for Miinto’s many partners
Miinto is a platform that connects products from more than 1.000 physical retailers with consumers who shop for fashion clothing online. The unique concept going forward is not based on a large, heavy central warehouse, but instead on the basic principle of the sharing economy which is to make use of resources that already exist.
The cooperation between Anders Holch Povlsen and Miinto not only entails further growth for the online company but also heralds promising times for the many partners. The partnership is a perfect match because of the common opinion of both parties that brands are part of the entire value chain. Both when it comes to direct sales to their retailers, and final sale to consumers.
Konrad A. Kierklo explains: “The investment from Anders Holch Povlsen allows us to make consumers aware of our brand and our concept, which is based on local online shopping. With this investment, we are to an even greater extent able to provide consumers with an alternative to the international online stores.”
A new visionary chapter
The new partners already have several plans in the pipeline and the investment means gearing up on future projects developing the retail sector and benefiting the Danish boutiques. Konrad A. Kierklo says:
“It is a day of celebration for all of us at Miinto. I am at the same time humble, happy and really proud of Anders Holch Povlsen’s investment in Miinto. We regard it as a big stamp of approval and we are extremely excited about this new chapter that we are starting together” he says, and continues: “We have already come a long way with Miinto and we have proven that our concept is profitable. With such a great partner, we can really boost Miinto’s growth and bring our many ambitions to life.”
A significant scaling of marketing and tech efforts
The past year, Miinto has increased focus on technology and marketing and has more than doubled the number of employees in both departments. A large share of the new investment has already been earmarked the further strengthening of these two areas. The optimization of the Miinto platform to respond event better to consumer demands will now be accelerated, together with a clear priority given to consumer awareness of the Miinto brand in Denmark, Sweden, Norway and the Netherlands where the company matches consumers with local shops online.
The Danish company founded in 2009 is today one of Scandinavia’s leading online fashion companies in Denmark, Sweden, Norway, and The Netherlands. Miinto is an online platform gathering local fashion stores offering more than 240,000 products and thousands of brands through more than 1,000 partners. Miinto has a total of 96 employees in the four countries, including 60 employees at the headquarters in Copenhagen. Read more on www.miinto-group.com.
• Anders Holch Povlsen only owner of Bestseller has made a double-digit million euro investment in Miinto Group.
• The share majority will not affect the Miinto concept or company that will continue as is.
• Much of the investment will be used for upscaling Marketing and Tech meaning creating more awareness and developing on new digital solutions in order to support the retail industry.
• The first of the new and unique digital solutions is now being tested and will be released later this year.