Suitcase acquired by FNG
Tom Founder / Chairman & CEO
20 Apr 2017 · 2 min read
After the successful sale of Tablebooker in March last year, we can now announce a second exit of a November Five-backed portfolio company.
Suitcase, the online curated personal style advice and clothing service for men, will become part of FNG, a publicly traded and growing Benelux-based fashion and retail group, with brands and activities across Europe.
Now that our time with Suitcase comes to an end, we’d like to look back on the reasons we chose to make this start-up part of our family.
When we got introduced to Suitcase’s business case and strategic roadmap, we saw a clear market opportunity in the still quite traditional retail industry, driven by changing consumer behaviour and expectations – ready for Suitcase’s proposition! And spearheading this plan, there was a complementary founding team with the right skillset and expertise.
Additionally, Suitcase piqued our interest as a great environment to experiment with data-driven marketing, sales and overall customer lifecycle automation methodologies, technology and tooling.
So why are we selling Suitcase today?
To drive the next iteration of its strategic growth, Suitcase is in need of true and tried retail expertise, focusing on aspects like efficient purchasing, improved inventory management, and most importantly, the marketing power and means to really reach their entire target audience.
Those next steps are outside of the scope that November Five focuses on, and we’re convinced that FNG can better support the Suitcase team to take these next steps.
So after 2 years of working together, we’re looking forward to see what Joop, Geert and the team can achieve within this new environment!
You can read more about this sale in the official press release.