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Olsen acquired by German private equity firm

Womenswear brand Olsen has been bought by German private equity firm Nord Holding.

Olsen

Olsen

Olsen

Olsen, which was founded in Germany in 1995, was previously owned by Switzerland-based Veldhoven Group.

Michael Simon, managing director at Olsen, has been promoted to chief executive as a result of the move.

Olsen employs 480 people in Germany, Canada, Poland, the UK, Russia and France. In 2016, its turnover increased by 6% year on year to €70m (£59m).

“The focus on the ‘modern classic segment’ of the womenswear market has seen Olsen targeting an attractive and generally speaking loyal customer group with above-average income,” said Matthias Kues, managing director at Nord Holding.

“This positioning means above-average growth potential in comparison to other segments of the fashion industry.”

In 2015, Nord Holding bought men’s trouser specialist Hiltl.

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