We are pleased to announce that Polaris has signed a definitive agreement to acquire a majority stake in Sinful, which is Scandinavia’s largest e-commerce business focused on sex toys. Sinful will be the second investment in Polaris’ fund V.
Since the foundation in 2008, Sinful has successfully built a data-driven market leader with around 150 employees and several strong brands, securing significant progress with almost 800,000 orders shipped and more than 10 million unique users over the last 12 months in a niche industry growing at a rapid pace. Sinful has grown more than 30% each year since the foundation and increased 2020 revenue by 38% to more than DKK 300 million and operating profit (EBIT) by just over 130% to DKK 61 million.
The transaction is conditional upon approval by the relevant authorities.
For more information, please contact:
Henrik Bonnerup, Partner
Phone: +45 2166 8766
Joachim Satchwell, Investment Manager
Phone: +45 2890 1381