Stockholm, Sweden – Desenio, Europe’s premier online provider of affordable wall art, has acquired 100 per cent of Poster Store, an international online retailer of design posters. The combined group will draw on its broad product offering, powered by its data-driven creative process and digital marketing expertise, to continue its mission to help people create beautiful homes through affordable and easily accessible wall art. Both companies will continue to operate under their respective brands as they expand operations across Europe, the U.S. and Asia.
“The Poster Store team has demonstrated great design and marketing competence, and our product styles, aesthetics, design and curation are strongly aligned. Together, we are taking on expansion into the U.S. and Asia as we continue democratising great design. It’s a Swedish tradition we are proud to be part of,” says Fredrik Palm, CEO of desenio.
The vast majority of Desenio’s wall art is developed in-house, based on a data-driven creative approach spearheaded by its design studio. Supported by a marketing strategy harnessing social media and effective design and execution collaborations with high-value influencers, Desenio’s wall art today graces the homes of trend-conscious consumers in over 35 countries. The company is respected across the industry for its strong brand name, highly efficient and lean operations, and proven ability to scale internationally, with 75 per cent of revenues coming from outside the Nordics.
“By learning from each other, Desenio and Poster Store will be able to bring more and better art at great prices to art-loving consumers across Europe, the U.S. and Asia. I am beyond proud of our team having taken Poster Store this far in only six years, and we all look forward to meeting and working with our new colleagues”, says Tobias Renlund, CEO and Co-Founder of Poster Store.
Headquartered outside Stockholm, Sweden, Poster Store was founded by brothers Tobias and Oskar Renlund in 2014. Since then, it has grown to become an established player in direct-to-consumer wall art with sales in 34 countries across Europe, North America and Oceania.
The new group will have revenues of more than 1 billion SEK in 2020 and is backed by Desenio’s majority owner Verdane, the Northern European specialist growth equity investor.
About Desenio
Desenio is Europe’s premier online store for art prints and frames, shipping to more than 35 countries worldwide. Our business idea is simple: on-trend and attractive wall art should be available to everyone. In 2020 we acquired Poster Store, creating a group with 220 employees and over 1 billion SEK in revenue. Working from our headquarters in Stockholm, Sweden, we are on a mission to help people worldwide create beautiful homes through affordable wall art. Desenio is backed by Verdane, the preferred growth partner to tech-enabled businesses in Northern Europe. www.desenio.com
About Poster Store
Poster Store is one of the fastest growing D2C companies within wall art and a platform for Scandinavian interior design inspiration. Since its inception in 2014, Poster Store has expanded internationally and currently sells posters and frames in 34 countries. Poster Store’s mission is to offer inspiring and affordable art to customers across the globe. www.posterstore.com
About Verdane
Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2.1bn in total commitments and have made over 120 investments into category leaders in digital consumer, energy & resource efficiency and software businesses. Verdane’s team of 61, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to be the best growth partner in Northern Europe. www.verdane.com