Coloreel Readies for Growth by Hiring Sven Öquist as VP of Sales
In an effort to scale and target a market value over 25 million SEK, or more than 2.95 million USD, Sweden’s Coloreel has hired Sven Öquist as the company’s new vice president of sales.
Coloreel is a Swedish textile-innovation brand that has developed its patented technology to enable high-quality digital dyeing of textile thread on demand. The results of this process are sustainable and include vivid details.
“Coloreel's product will fundamentally change the industry,” Öquist said. “My job now will be to build on, strengthen and develop the sales organization with the goal of scaling up the company. The product has a unique patent foundation that gives me the opportunity to do this in the right way. To be able to participate and work with such an innovation, which has an enormous development potential, is extremely motivating for me. The fact that it also provides significant sustainability benefits makes me extra proud to take on my new role.”
After taking note that the equity fund Robur Ny Teknik would invest 100 million SEK, or more than 11.81 million USD, at the beginning of 2021 to support Coloreel's growth, Coloreel realized it had to recruit someone to strengthen the sales organization. Öquist was chosen due to his previous experience at the Swedish automotive brand Polestar, where he drove sales expansion.
“We are now seeing how the markets are starting to reopen after a period that has been marked by the effects of the pandemic,” said Coloreel Chief Executive Officer Mattias Nordin. “We operate in the textile and fashion industry and notice clear signs from our customers that production is picking up to a more normal pace again, not least when leading fashion fairs plan to be carried out during the late summer. This means that we are now scaling up to reach the global market with our innovative product. Sven Öquist is perfect for the role of vice president of sales.”