Investment & Fund Management
European Investment Fund Partner
Full Credential Description
Gaston Luga, a Swedish lifestyle fashion brand, faced a unique challenge in the competitive market of backpacks and accessories. The founder, Carl Sundqvist, identified a gap in the industry where sophisticated adults were overlooked, as most backpacks were designed for younger consumers. His vision was to create a line that combined Scandinavian minimalism with elegance, suitable for various occasions. To bring this vision to life, Carl sought financial support early in the process and secured a loan backed by the European Investment Fund (EIF) through the EUs Employment and Social Innovation programme via Almi.
The tailored solution provided by Almi was critical for Gaston Luga's launch, enabling the brand to progress more rapidly than it would have without the financial backing. The loan facilitated the development of high-quality products made from leather, cotton, and metal details, incorporating unique design elements such as a special pocket for travel documents. As a result of this support, Gaston Luga has not only successfully launched its product line but is also actively hiring more staff, particularly in sales and marketing, and is expanding into new geographical markets while developing additional products. This strategic growth is a direct outcome of the financial assistance received, which has allowed the company to scale its operations significantly.