Sneakersnstuff Founders Clear The Air On Alleged $57 Million Sale

John Kim June 6, 2018

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. The opinions and information provided on this site are original editorial content of Sneaker News.

3041

News has been circulating that Swedish sneaker retailer Sneakersnstuff was sold for roughly $57 million to a Norwegian venture capitalist firm called FSN Capital. However, according to SNS co-founder Erik Fagerlind, what the headlines have been spelling out aren’t consistent with the truth, so he took it upon himself to clear the air to ensure that what went down on the business side of things is just that – business.

In an open letter to their loyal customers and fans, Fagerlind details exactly what is occurring with their new VC partner FSN Capital. In short, this new partner will continue help Sneakersnstuff continue its growth, which includes a new US store this year, stores in Asia in 2019, and the grand opening of a bar in NYC and a nightclub in Berlin (that’s the “stuff” part). The takeaway: the two dudes who started SNS together will continue to not only remain, but have their vision realized with much more force thanks to their new partner. Read the full statement here.

Written by

John Kim, Editor-in-Chief

John Kim is the current Editor-in-Chief of Sneaker News, taking over the role in 2014 after joining the company in 2009. Born and raised in Queens, NY, John has published interviews with Kobe Bryant, LeBron James, Anthony Edwards, Pusha T, Pharrell, and more. He is considered among the most trusted voices in the industry and is a fixture at important brand events across the globe.