AuÐur I invests in ELM

Audur Capital’s Private Equity Fund, AuÐur I, announced today that it has concluded its first investment. AuÐur I has signed a share purchase agreement with ELM and will work with the company in further growing its successful business.

ELM produces high quality, high fashion clothing for women -  DESIGNED BY WOMEN FOR WOMEN.  The company was established in 1999 by three Icelandic designers Erna Steina, Lísbet and Matthildur, and their initials form the company name.

ELM has enjoyed remarkable success during the past few years.  Sales have grown by 50% each year for the last 3 years, with exports being 80% of sales.  The largest markets for ELM clothing are the US and Europe.  

Kristin Hrafnkelsdottir has joined ELM as the company CEO. Kristin is a textile designer with a masters degree in business and joins ELM from Össur, where she held that position of a product manager.