Colorful Standard, a Danish fashion label founded by Tue Deleuran in 2018, has recently sold a stake in the company to ABN Amro Sustainable Impact Fund (SIF) in order to accelerate its international expansion. The brand, known for its range of essential clothing items available in 50 different colors, has gained popularity with independent retailers. All of Colorful Standard’s garments are made in Europe using environmentally friendly materials.
Since its launch, Colorful Standard claims to have achieved an average annual growth rate of 100%. This recent partnership with SIF marks a significant move for both parties involved, as it is the first fashion industry investment for ABN Amro’s sustainable fund. Although the investment amount has not been disclosed, it is speculated to be over €10 million.
ABN Amro SIF, which was launched with a €425 million endowment, focuses on supporting sustainable companies in the renewable energy, social affairs, and circular economy sectors. Their investment policy ranges from €4 million to €30 million, and they acquire stakes between 20% and 70%.
Frederik Deutman, the managing director of SIF, expressed enthusiasm about the partnership, stating that Colorful Standard is a force for change and a sustainable fashion operation with a portfolio of great products loved by their customers. This partnership will support Colorful Standard’s expansion plans and further emphasize their commitment to transparency, inclusivity, diversity, and sustainability.
Tue Deleuran, with over 20 years of experience in the retail and fashion industry, previously co-founded the RTG Textiles group, which helped bridge the gap between Scandinavian labels and the Portuguese textile industry. This same factory now produces Colorful Standard’s clothing items, including t-shirts, sweatshirts, and joggers.
In addition to its core range of clothing items, Colorful Standard has recently expanded its assortment to include sunglasses and a yoga apparel line. The brand currently operates eight monobrand stores across Europe and is distributed through over 1,000 multibrand retailers, predominantly in its domestic market, as well as in the UK, France, and Italy.
With the support of ABN Amro SIF, Colorful Standard plans to expand internationally, with a focus on the European market, particularly in Germany and Spain. The brand is also looking to establish a presence in North America, starting with Canada, and potentially targeting the USA in the near future.
To help drive its ambitious expansion plans, Colorful Standard has recently appointed Tommaso Brusò as the label’s new CEO. Brusò brings extensive experience in the fashion industry, having held positions as the president of Kiabi Italy and the COO of the Benetton group. He has also worked at Diesel and Furla, further strengthening Colorful Standard’s leadership team.
Tue Deleuran, the founder of Colorful Standard, envisions revolutionizing the global fashion industry and sees the partnership with ABN Amro as a significant step towards achieving this goal. With its commitment to sustainability and its range of vibrant, high-quality clothing, Colorful Standard is well-positioned for continued success and expansion in the years to come.
Useful links:
1. ABN Amro Sustainable Impact Fund
2. Colorful Standard’s official website
