Minimum thinks big with purchase of Junk de Luxe
The Danish group Minimum is bolstering its product lines with the acquisition of its fellow Dane Junk de Luxe in a deal closed at the end of December. Up until then, the Danish company had been focused on Minimum, an eclectic brand with a Scandinavian style and an international presence that has enjoyed a high growth rate and just entered the Canadian market. Minus, essentially a womenswear brand in Scandinavia, also made the trip to Canada to diversify its business.
In this structure, Junk de Luxe has just positioned itself at the top of the pyramid. Founded in Denmark in 1986, Junk de Luxe was originally a store specialized in importing Levi's vintage jeans. In 1992, it became a full-fledged brand and garnered an international retail network, such as Isetan in Tokyo and Selfridges in London, which were attracted by its Scandanavian designer approach. In recent seasons, the brand suffered a downturn in business, but Minimum owners Peder Tang and Jacob Fisker thought Junk de Luxe had great potential. Their own company posted 25% growth between 2011 and 2012. So they bought the brand from its founder and revamped the whole team.
The new sales manager, Kim Juul, who launched the menswear brand Vito in 2010, says that the brand will continue to use its DNA, mixing vintage denim and retro knits with
a minimalist Scandinavian look while also experimenting with new trends.
The brand’s exact positioning is still being fine-tuned and will be presented at the next Bread & Butter in Berlin. Junk de Luxe could benefit from the group’s size to gain new advantages in sourcing or in terms of their markup factor (2.8 on average at Minimum).
Copyright © 2022 FashionNetwork.com All rights reserved.