The company has recently opened a warehouse in the USA, which now constitutes their largest market. The new capital comes from the investment company Wellstreet, which is thereby increasing its ownership. In addition, Jessica Rameau, partner at Wellstreet, is joining the board of directors. The investment is primarily aimed at continuing the establishment in the USA and Great Britain.
According to the annual report, turnover increased by 170 percent, from 8.6 million Swedish krona to 23.2 million Swedish krona. Operating loss remains at minus 2.1 million Swedish krona.
We have almost tripled turnover in one year, but for us it still feels like we are just getting started, says Kristin Hars, CEO and founder of Sisterly Tribe.
Recruiting from the industry
To manage growth, the e-commerce company is strengthening its workforce with two names from other companies within the industry. Paula Schott, who most recently comes from Aim'n, is joining as new Head of Product.
At the same time, Daniel Fischer, former CFO at Axel Arigato, is joining as new part-time CFO to lead the company's financial structure forward.
With this capital and the team we are now building, we can invest more aggressively internationally. Our ambition is to build Sisterly Tribe into a leading global lifestyle and wellness brand, says Kristin Hars.