Sneakersnstuff, the world-famous sneaker chain, is back on track after bankruptcy.
Sneakersnstuff, or shorter SNS, the sneaker chain that started in a super small store in Stockholm in 1999 and ended up with a handful of stores in London, Tokyo, New York, and more, and world-famous collabs with major sneaker brands, went bankrupt a month ago after turnover topping at €100m. Now, the new owner since a week, Reziprok, has announced that SNS founder Erik Manzano Fagerlind will become the new CEO of SNS.
The ambition of Reziprok is to continue to run SNS as it was done but with new management. Reziprok will also try to open the closed New York store as soon as possible, the company said.
The new owner, a German investment company, describes itself as a “value-driven investment boutique dedicated to supporting pioneers in different industries.”
Reziprok’s investment strategy focuses on long-term growth and support for entrepreneurs in various industries.
“At Reziprok, we are dedicated to supporting companies built on deep traditions and that have an innovative spirit,” said Marius Haufe, Managing Partner at Reziprok. ”Sneakersnstuff is one of the foremost players in sneakers, known for challenging the status quo while staying true to its roots.”
Erik Manzano Fagerlind, one of Sneakersnstuff’s co-founders, returns as CEO. Here´s how he see the future of SNS:
“SNS will continue to be a meeting place, not only for sneaker lovers but for all subcultures where sneakers play an important role. We want to promote inclusion, creativity and innovative ideas. We look forward to getting more involved locally and strengthening our position in each city where we operate.”
Reziprok describes itself as an active investor. Their goal is to support companies in their respective markets.
The acquisition of Sneakersnstuff is motivated by the brand’s history and future potential. Oliver Pressinger, with over twenty years of experience in the industry, contributed to the deal. Marc Harris and Dangoor Associates were also involved in the process.
