Verdane invests in plus size fashion leader navabi
Stockholm/Aachen — navabi, the global leader in plus size fashion, partners with Verdane Capital IX, the Nordic investor in online retail and technology enabled companies.
Verdane Capital IX has invested an 8-figure euro sum to fuel navabi’s ongoing growth. The investor is taking over all shares of Bauer Venture Partners, while investing an additional higher amount. All other previous investors – such as Index Ventures – remain on board in navabi. Verdane Capital is well-known in the online retail space, having invested in Boozt.com, known by some as the ‘Nordic Zalando’, which was successfully listed on the Nasdaq Stockholm Stock Exchange in 2017.
With the current financing, navabi has set the course for continued profitable growth and further expansion of its market leadership in the plus size segment. Today, two thirds of navabi’s sales go to the German home market, and the company plans to boost its international sales going forward, particularly in the UK, but also in other markets such as Scandinavia. navabi will further use the investment to emphasise technology development, as the company’s success is significantly based on their data and automation focus. Having achieved its goal of reaching profitability during a period of growth based on this data-driven strategy, navabi plans to further grow its in-house data science and artificial intelligence systems to better serve the needs of its international customer base. Data-driven merchandising will also continue to help navabi expand its popular range of own brands.
navabi’s investment strategy is focused on long-term healthy and profitable growth and working with fashion-experienced partners. Bahman Nedaei, co-founder of navabi, said: “We are delighted to partner with Verdane Capital IX who has strong roots in the fashion and online retail industry and who shares our vision of sustainable and profitable growth.” Co-founder Zahir Dehnadi added: “We think all women, irrespective of size, should be able to find beautiful and high quality clothes, and our goal is for navabi to become synonymous with plus size fashion. Buying clothes when you are plus size can be challenging but by understanding what our customers need and desire, we ensure that shopping at navabi is a truly enjoyable experience.”
The plus size market is experiencing sustained growth, as demonstrated by the 270% increase in Google searches for ‘plus size’ in Europe over the last five years. Verdane Capital IX is looking forward to contributing to navabi’s growth journey. “navabi has a dedicated and highly competent team, a great offering and a strong growth potential in an attractive niche. Combined with our experience and expertise in building online retail winners, we believe we have the perfect set-up for creating a global market leader in plus sized fashion,” explained Staffan Mörndal, Partner at Verdane Capital Advisors.
The navabi team is run by the founders Zahir Dehnadi and Bahman Nedaei from Germany, with an office in London, and is dedicated to the needs of stylish plus size women worldwide. The company sells the world’s largest selection of plus styles. Over 150 well-known labels such as Marina Rinaldi Sport and Levi’s can be found on the website. Further, navabi has successfully launched own brands which are growing strongly and already account for one third of the company’s sales. navabi is available in more than 30 countries, including Germany, the UK, France and the USA.
Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest either in a single company, or in portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 29 employees working out of offices in Copenhagen, Helsinki, Oslo and Stockholm. More information can be found at: www.verdanecapital.com
navabi is the global leader in plus size fashion. We curate and create the best and most inspirational plus size fashion collections and offer a ecommerce experience for our style savvy customers. More information can be found at: www.navabi.co.uk