H&M Group has snapped up a minority stake in a Swedish retail technology platform Voyado.
The fashion giant, which has been a customer of Voyado for several years, called the move a strategic investment as a natural evolution of its partnership with the company which will strengthen collaboration.
The platform aims to drive profitable sales by optimising ecommerce, creating personalised customer experiences and streamlining communication across channels.
Voyado said the move will support its long-term strategy to enhance platform capabilities, better serve larger customers, and create greater value for customers while driving international expansion.
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Head of H&M Group Ventures Erik Lagerblad said: “We are really impressed by Voyado’s journey so far. After rolling out their solution globally, we’ve seen first hand the difference it makes in creating value at scale.
“That’s why it makes perfect sense for the H&M Group to deepen our partnership through an investment, which will further support Voyado’s future growth and strengthen their offering for other enterprise customers”.
Voyado CEO Erica Sandelin Ekelund added : “Our ambition is to establish Voyado as Northern Europe’s most beloved retail tech companion while maintaining profitability and scalability.
“H&M Group’s investment brings valuable insights and resources that align with our efforts to scale faster and expand into new segments, creating value for our existing and future customers.”
In recent years, Voyado has achieved an annual growth rate of 35% by capturing market share across the Nordics and Benelux. It is now planning to expand into key markets such as the UK and Germany.
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