Investment & Fund Management
LAKOR sought
Full Credential Description
LAKOR, a textile company based in Aarhus, Denmark, faced significant challenges as it transitioned from a lifestyle brand founded by artists and surfers into a structured business. Initially, the company struggled with product development and market understanding, pouring all their capital into a single collection without adequate knowledge. This led to a critical reassessment of their approach, prompting the founders to realign their strategies and focus on sustainable practices.
To support their growth and expansion, LAKOR sought funding from EIFO, a bank backed by the European Investment Fund (EIF). The financing aimed to enhance their sales, broaden their product catalog, and increase brand recognition in new markets. This strategic move was essential for LAKOR, which now sells approximately 100,000 shirts annually.
One of LAKOR's unique sustainability initiatives includes a deposit system for worn-out clothing, where customers receive around 4 euros for returning used pants, which the company then reuses. Additionally, since January 1, 2021, LAKOR has committed to planting a mangrove tree for every piece of clothing sold, resulting in the planting of 390,787 trees to date. This commitment not only reflects their dedication to sustainability but also enhances their brand image in a competitive market.