Companies

H&M acquires minority stake in Swedish platform Voyado

Dec 26, 2024 Sweden

The Sweden fashion group has acquired a minority stake in the Swedish-founded retail technology platform Voyado, thus strengthening their existing partnership

The terms of the deal were not disclosed, but Swedish media reported the investment at 6.5 million with a valuation of 258 million euros. While H&M Group will not be represented on the board, its representatives will actively participate in strategic discussions in other forums.

Voyado, a long-time customer of the H&M group, uses customer data to deliver tailored messages, marketing campaigns and personalised experiences across multiple channels. This allows companies to segment their audience based on customer behaviour, preferences and purchase history, while offering various marketing automation tools.

“We are really impressed by Voyado's journey so far. After rolling out their solution globally, we've seen firsthand the difference it makes in creating value at scale. That’s why it makes perfect sense for the H&M Group to deepen our partnership through an investment, which will further support Voyado’s future growth and strengthen their offering for other enterprise customers”, commented Erik Lagerblad, Head of H&M Group Ventures.

Over the past few years, Voyado has achieved an annual growth rate of 35% and has gained significant market share in the Nordics and Benelux. The next step is to expand into key markets such as the UK and Germany.

“Our ambition is to establish Voyado as Northern Europe’s most beloved retail tech companion while maintaining profitability and scalability. H&M Group's investment will provide additional resources and expertise to help us further develop our platform and support an increasingly international customer base, benefiting existing and new customers”, said Erica Sandelin Ekelund, CEO of Voyado.

Image Credits: visitstockholm.com

Sweden Acquisitions Fashion H&M Investment Partnerships Technology