Vækstfonden invests in Danish fashion firm Noir  

2008.11.07
The Danish state backed investment fund Vækstfonden has given a DKK 9 million cash injection to fashion clothing firm Noir
The Danish state backed investment fund Vækstfonden has given a DKK 9m (USD 1.6m) cash injection to fashion clothing firm Noir - or at least to its mother company - reports financial daily newspaper Børsen. Vækstfonden has the firm belief that despite the black mood in the global economy, Noir can quadruple its revenues to the bright side of DKK 50m (USD 8.7m) in a couple of years.
 
Noir is not only a highly exclusive label, but also has the additional cachet of sustainable production methods. Vækstfonden believes that this combination will make Noir a lasting hit with consumers. The brand is also supported by a more affordable companion line called Black Noir.
 
Vækstfonden's deputy director Ulrik Jørring told Børsen: "Our investment in Noir is a natural consequence of Noir's unique business concept. We simply think that the combination of sustainability and lovely design is so potent that the brand will really get noticed by consumers, even at a time when many are feeling the economic pinch. The need to show social responsibility has come to stay."
 
Noir was founded in 2005 by Peter Ingwersen whose mission, according to Noir's website, is to "create meaningfulness in the luxury segment." The webtext goes on to say "You hear a lot of hoo-ha these days about how this or that designer is going to save the world one anorak at a time, but this one [i.e. Ingwersen] is putting his money where his mouth is."
 
Link > Noir     

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