STOCKHOLM, June 9, 2017 /PRNewswire/ -- Happy Plugs®, a global market leader in fashion tech creating consumer electronics accessories, today announces their partnership with Scope, a growth equity fund. Scope will add a scalable platform supporting sustainable brand growth and presence, further enhancing Happy Plugs' expansion internationally.
- "Things have just sky rocketed since day one. It has been an incredible journey and we've developed the company to meet its strong growth. It was time to take the Happy Plugs brands to the next level towards building a global fashion electronics powerhouse and teaming up with Scope will give us the resources to execute our plan. This partnership comes at a time when it makes sense to turbo charge the marketing platform we fought hard to establish," says CEO and Founder Andreas Vural of Happy Plugs.
Happy Plugs was founded in 2011 by CEO Andreas Vural and has rapidly grown into a strong fashion electronics brand. With physical distribution in 70 countries through over 10,000 outlets worldwide, Happy Plugs reached sales of 115 million SEK in 2016 with an average annual growth rate of 62 percent over the last four years. Happy Plugs is headquartered in Stockholm with offices in Hong Kong, Helsinki and Vancouver.
Happy Plugs' mission is to transform the consumer electronics industry by merging innovative design, fashion and technology while turning essential tech accessories into fashion 'must-haves.' Original shareholders, including Andreas Vural, will remain owners of Happy Plugs.
- "We have followed Happy Plugs progress for some time now and we are very impressed by what Andreas has achieved. By adding fashion to consumer electronics accessories, he has created a very solid concept and highly scalable business opportunity. We are very excited and look forward to working with Andreas and his team to take Happy Plugs to the next level," says Andreas Ossmark, partner at Scope.
About Happy Plugs
Happy Plugs is a Swedish house of lifestyle brands based in Stockholm. The company is a global leader in fashion tech with a mission to transform the consumer electronics industry by merging innovative design, fashion and technology. Happy Plugs is an award-winning lifestyle and fashion brand with the ambition of transforming essential tech accessories into fashion must-haves. The company's latest brand YEVO is an innovation lab at the forefront of consumer tech, creating the future of smart headphones. Happy Plugs and YEVO are available in the most prestigious concept, department and retail stores in over 70 countries and 10,000 retailers worldwide. Read more at www.happyplugs.com and www.yevolabs.com
The Scope Funds invest in Nordic growth opportunities. The objective is to generate high, risk-adjusted, financial returns in any economic environment. Investments are made in companies based on innovation and creativity with proven value added. As an active owner, Scope partners with management to create companies with internationally scalable platforms that support sustainable growth. Scope Capital Advisory, with operations based in Stockholm and Geneva, is advisor to the funds. For further details go to www.scope.se
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SOURCE Happy Plugs