Investment & Fund Management
and secured a loan backed by the European Investment
Full Credential Description
Gaston Luga, a Swedish lifestyle fashion brand specializing in backpacks and accessories, faced a significant challenge in entering a market that was largely focused on younger consumers, leaving a gap for sophisticated adult products. Founder Carl Sundqvist recognized this opportunity and aimed to create a line that combined Scandinavian minimalism with elegance, suitable for various occasions. However, to bring his vision to life, he needed financial support to accelerate the brand's development and market entry.
To address this challenge, Carl turned to Almi, a financial intermediary, and secured a loan backed by the European Investment Fund (EIF) through the EUs Employment and Social Innovation (EaSI) programme. This financial backing was crucial for Gaston Luga, as Carl noted that without the loan, the company would have experienced significantly slower progress and would likely have a much smaller team today. The funding enabled the brand to launch its unique line of backpacks, which feature high-quality materials and exclusive design elements tailored for the modern traveler.
As a result of this strategic financial support, Gaston Luga has not only successfully launched its product line but is also actively hiring more staff, particularly in sales and marketing, to facilitate further growth. The company is expanding into new geographical markets and developing additional products, positioning itself for significant growth in the near future.