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Altor Fund V has signed an agreement to acquire a minority stake in Totême and enter into a partnership with the founders and other existing shareholders. Altor will support the founders and the company on its continued international growth journey. Founders Elin Kling and Karl Lindman will remain as majority shareholders and continue in their current roles.
Founded by Kling and Lindman in 2014 in New York City, Totême is a fast-growing fashion label in the modern luxury universe, widely known for iconic uniforms. The company is headquartered in Stockholm with a strong Swedish heritage but with a true global presence. Sales are evenly split between Asia, North America and Europe, with a predominantly online presence via its own web shop and online retailers. The company has grown rapidly and reached sales of ca SEK 350m.