Polaris has agreed to acquire a majority stake in Sinful, Scandinavia's largest sex toy e-commerce business, marking its second investment in Fund V.

Information on the Target

Polaris has entered into a definitive agreement to acquire a majority stake in Sinful, Scandinavia’s largest e-commerce business specializing in sex toys. Founded in 2008, Sinful has established itself as a data-driven market leader with a dedicated team of approximately 150 employees. Over the past year, the company has successfully processed nearly 800,000 orders and attracted more than 10 million unique users.

Sinful has consistently demonstrated impressive growth, increasing its revenue by 38% in 2020, with figures surpassing DKK 300 million. Furthermore, the company's operating profit (EBIT) surged by over 130% to DKK 61 million. This remarkable performance highlights Sinful's solid position within the niche market of adult products, which continues to expand rapidly.

Industry Overview in Scandinavia

The e-commerce sector in Scandinavia has seen substantial growth, driven by increasing consumer acceptance of online shopping for a variety of products, including adult