CDLP, the Stockholm-based men’s brand of “sustainable luxury essentials,” has closed on a $5 million investment round led by Matchesfashion founder Tom Chapman and Swedish-American entrepreneur Cristina Stenbeck.
Founded by film director and photographer Christian Larson and entrepreneur Andreas Palm, CDLP offers men’s undergarments, including boxer-briefs, boxers, briefs, trunks and long johns made with Lyocell, and socks made with bamboo. The best friends-turned-brand founders launched the brand in 2016 and were inspired after Larson shot a campaign for a British lingerie brand and felt that women have more options than men when it comes to underwear.
CDLP, which is an abbreviation of the phrase “un cadeau de la providence,” has since added socks, swim shorts and trunks made from Econyl, and expanded its wholesale business, selling at stores such as Mr Porter, Matchesfashion, and NK (Nordiska Kompaniet) in Stockholm. It recently launched a line of T-shirts, handcrafted in Portugal from Lyocell and pima cotton, that retail for $79. Next month, it will launch a subscription service and it is also planning to expand into active/performance underwear.
“We don’t want to pick a fight with Nike, but want to provide our customer with an elevated activewear option and mobility,” they said.
Wholesale currently accounts for 25 percent of the brand’s sales, with direct-to-consumer representing the remainder. The brand operates a retail concept in Stockholm in a neighborhood that also houses Louis Vuitton, Chanel and Stone Island.
CDLP closed 2019 with just under 2.5 million euros in revenue, a 150 percent increase over 2018. The U.S. is its largest market, accounting for 35 percent of sales. Sweden brings in another 20 percent.
The new $5 million investment will be used to expand the brand internationally, particularly in Western Europe and Asia, open a larger store in Stockholm and potentially a store outside of Sweden, possibly in New York City. “That is the ambition,” the brand said.
“The plan is to grow fast and introduce the brand to new audiences and grow more than we did last year — by up to 300 percent,” the partners said.