Due to several years of steady growth for New Element, the Swedish company is now expanding. The founder and owner, Ulf Waldekrantz, has hired Ola Gräsberg, former administrative director at Riksbyggen, as chief executive. Waldekrantz will focus on sales and development. At the same time, New Element adds the Norwegian brand Devold, manufacturer of wool garments since 1853, to its list of brands, which already includes Dale of Norway, 66°North, Exped, Life Is Good, Sonnenreiter and New Element's own brand Three Lucky Swedes.

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