Global fashion giant Hennes & Mauritz (H&M) Group has acquired a minority stake in Swedish retail technology platform Voyado for an undisclosed sum, as part of a new strategic alliance between the companies.
Voyado specialises in providing a platform enabling retail entities, online commerce operations and brands to cultivate enduring relationships with customers, from initial interactions to fostering loyal brand advocates.
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Its AI-driven customer experience cloud features a product discovery engine that anticipates e-commerce visitors’ intentions and a multi-channel marketing hub delivering critical insights, along with tools for executing automated and personalised consumer engagement.
As a long-term client of Voyado, H&M regards this investment as a progression in their collaborative efforts, aiming to reinforce their partnership and expand the reach of Voyado’s solutions on a global scale.
H&M group ventures head Erik Lagerblad stated: “We are really impressed by Voyado’s journey so far. After rolling out their solution globally, we’ve seen firsthand the difference it makes in creating value at scale.
“That’s why it makes perfect sense for the H&M Group to deepen our partnership through an investment, which will further support Voyado’s future growth and strengthen their offering for other enterprise customers.”
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By GlobalDataVoyado has seen its business grow at an annual rate of 35%, securing a substantial presence within Nordic regions and the Benelux countries.
The company’s growth is attributed to its dedicated focus on the retail sector and its proficiency in addressing industry-specific challenges. These factors are now propelling Voyado into its next phase of expansion, targeting key international markets including the UK and Germany.
As Voyado pushes forward with enhancing its platform capabilities to address evolving consumer behaviours, the experience and market insights provided by H&M will be instrumental.
The objective is to maintain a versatile and scaleable solution that can be tailored to meet regional market nuances and consumer expectations.
Voyado CEO Erica Sandelin Ekelund said: “Our ambition is to establish Voyado as Northern Europe’s most beloved retail tech companion while maintaining profitability and scalability.
“H&M Group’s investment will provide additional resources and expertise to help us further develop our platform and support an increasingly international customer base, benefiting existing and new customers.
“We continue to see enormous potential in our niche and strongly believe that our retail focus is what creates true value for our customers. By building smarter, industry-specific solutions that address real challenges, we’re ready to take the next step in our growth journey.”
Voyado’s investor group comprises Novax, Verdane and eEquity. Despite H&M not taking a seat on Voyado’s board of directors, representatives from the group will engage in strategic discussions through alternative channels.
Headquartered in Stockholm, Sweden, Voyado has expanded its workforce to 300 employees across Northern Europe and continues to experience rapid growth with an expanding international clientele.
In August 2024, H&M announced plans to reopen stores in Ukraine, more than a year after closing them.
