66°North Gets Global Investor

New opportunities for Icelandic outerwear brand 66° North are on the horizon in the fashion world. Vísir reports today that last year, a foreign investment company coined in on the 66° North brand. The New York-based investment fund, Mousse Partners, is run by the same family who own Chanel, and will assist 66° North expand globally.

In tandem with their expansion, 66°North has appointed Matthew Woolsey as their global president. Woolsey, a former managing director at Net-a-Porter, has high hopes for the brand and its future.

When asked why he accepted a position at such a relatively small company on the international scale, he discussed how much he admired and was charmed by 66°North’s history, heritage and their quality clothes.

Speaking about the label’s future plans, Woolsey explained that he, along with 66˚North, plan to, “redefine the category in the same way ‘athleisure’ has redefined athletic wear. Both from a functionality and aesthetic standpoint, there’s a big opportunity for a breakthrough… that kind of product really doesn’t have a limit,” HypeBeast reports.

He is also positive that the Icelandic brand will become more successful and known worldwide, saying, “Yes, the brand is also growing internationally since people from all over the world are buying the clothes in Iceland and in Denmark. We’re going to build from that base, bring it to new markets and maintain the brand’s characteristics which has formed these deep connections to their customers.”

While Woolsey’s office will be located in London, the headquarters will remain in Iceland. Woolsey will focus on putting the label more online to connect it to an international audience and even to those who have never visited Iceland.

Founded in 1926, 66° North started out by making protective clothing for Icelandic fisherman that could sustain the harsh conditions they face at sea. Today, the clothing brand has a wide range of garments, all made with the idea of functionality and being able to withstand the unpredictable weather in Iceland.