The purchase includes the Ulvang brand and the rights and assets associated with it. Vegard Ulvang started the business with partners, and the company has over time established itself in the Nordic market with a focus on base layers, socks and sweaters made of wool.
For the past twenty years, ownership has been with Brav, but now XXL is stepping in to take over operations.
Aims for New Markets
The new owner’s plan is to increase the brand’s visibility and reach a wider audience.
Ulvang is one of the most well-known brands for wool clothing in the Nordic region. The brand has a unique history and a position within categories such as wool base layers, wool socks and wool sweaters, says Nick Fox, CEO of XXL, and continues:
We see potential for continued development of the brand and have ambitions to invest in both product development, distribution and visibility in the market. Through XXL's Nordic position, we have both the will and the capacity to further develop Ulvang and make the brand accessible to even more customers and markets in the coming years. At the same time, we are continuously looking at opportunities to broaden XXL's position through brands, strategic partnerships and other growth opportunities within our core areas.
Seller Shifts Focus
For the selling company Brav, the transfer is about restructuring its own business to free up time and capital. The founder of the brand views the change of ownership positively.
Ulvang is a brand with a history, and XXL is well positioned to further develop it. For Brav, the divestment means that we can concentrate our resources on our core brands. We would like to thank Vegard Ulvang for a very good collaboration over the past two decades, says Gustaf Öhrn, Chairman of the Board of Brav AS.
Vegard Ulvang adds:
I congratulate XXL on a good deal and am glad that they want to take the Ulvang brand to new heights. I have confidence in the future of classic Norwegian wool products.