Egmont expands in e-commerce by buying majority in Sweden's Outnorth

Denmark's Egmont Publishing said it has raised its stake in Swedish e-commerce company Outnorth and now owns the majority of shares in the outdoor equipment and garment company. Egmont first invented in the company just over a year ago. Outnorth was founded in 2005 and operates in Sweden, Denmark, Norway, Finland and Germany and achieved approximately SEK 430 million turnover in 2017.

Egmont Publishing says it plans to build up new growth areas within marketing services and e-commerce. In 2018, we have invested in Ingager, the biggest Facebook agency in Sweden, and buying Outnorth propels it towards its 2020 goal of EUR 500 million revenue from e-commerce. Its other online trading investments are Jollyroom, Bagaren & Kocken, Fjellsport, Med24 and Nicehair.