John Kim 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.
