Zlatan’s brand to shut down after just two years
23/08/2018
The company was a joint venture with Norwegian retailer Varner Group and offered a range of apparel for men and children. These products were initially sold online, before Varner began selling them in some of its own stores at the end of 2017 in order to boost sales.
“Despite solid growth in 2017 the European sportswear effort has proved too expensive,” the Varner Group said in a press release.
According to Dagens Industri, a Swedish financial newspaper, the brand’s financial reports from 2017 and 2016 showed a total loss of SEK 210 ($23 million) over the two years.
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