CORDET provided a loan to Happy Socks AB (“Happy Socks”), a portfolio company of Palamon Capital Partners. The purpose of the financing package was to support the acquisition of Happy Socks.
Happy Socks is a lifestyle brand that offers designer socks and underwear for women, men and children. It is now the market leader in the segment that it helped create. The business designs, markets and sells products through a number sales channels. The company has successfully created a well-known brand with a global scale. Production of socks and underwear is outsourced with main production centers in Turkey and China. Most of its products are shipped to the main warehouse in Holland, where the products get distributed through different sales channels i.) distributors, ii.) E-commerce iii.) private label iv.) own concept stores or pop-up stores v.) Licensing partners (use their own suppliers to produce the products.)