Oscar Jacobson acquires Swedish fashion label Flippa K
OJ Holding Sweden AB, the parent company of menswear brand Oscar Jacobson, has acquired Swedish fashion label Filippa K from investment firm Novax. The acquisition aligns with Oscar Jacobson's strategy to expand through selective acquisitions while maintaining brand independence.
Transaction snapshot
Deal value: Undisclosed
Deal multiples: N/A
Deal type: Full acquisition
Investors: Seller: Novax (part of Axel Johnson Group); Buyer: OJ Holding Sweden AB (owned by Mellby Gård)
Filippa K, established in 1993, offers minimalist Scandinavian fashion for both women and men. The brand operates through its own stores, online platforms, and selected international retailers, with a strong presence in Europe. In 2024, Filippa K reported revenues of SEK 436 million (A$70.1 million) but incurred a loss of SEK 39 million (A$6.3 million).
Oscar Jacobson, founded in 1903 and part of Mellby Gård since 2018, reported net sales of SEK 506 million (A$81.3 million) in 2024, with an operating profit of SEK 47 million (A$7.6 million). Post-acquisition, the combined revenue of the Oscar Jacobson Group is projected to approach SEK 1 billion (A$160.7 million).
Both Filippa K and Oscar Jacobson will continue to operate as independent brands within the same group. The acquisition is part of Oscar Jacobson's long-term strategy to grow both organically and through carefully selected acquisitions. The company aims to leverage potential synergies across different areas while maintaining each brand's distinct identity.
Novax, the seller, stated that the divestment of Filippa K aligns with its new strategic direction. Carl Johan Åkesson, investment manager at Novax, emphasised the importance of a strong owner to continue developing Filippa K.
Marie Forssenius, CEO of Filippa K, expressed optimism about the acquisition, highlighting Oscar Jacobson's experience in building brands with clear identities and long-term perspectives. She looks forward to exploring synergies that can strengthen Filippa K's position and create strong conditions for further development.
Richard Woodbridge, CEO of Oscar Jacobson, welcomed Filippa K to the group, noting that the acquisition aligns with their overarching ambition to grow through carefully selected acquisitions. He praised Filippa K as a strong fashion brand with minimalist design, a clear Scandinavian heritage, and a commitment to responsible production.
The acquisition marks a strategic move for Oscar Jacobson to expand its portfolio while maintaining the unique identities of both brands.
