Lovia Oy

Lovia Oy operates in the sustainable fashion sector, specializing in the creation of handmade bags and jewelry using repurposed materials, aiming to reduce waste and promote ethical consumerism. Founded in 2014 and headquartered in Helsinki, Finland, Lovia Oy designs and manufactures eco-friendly accessories. The company has completed 2 deals, with its most recent funding round being VENTURE DEBT of EUR 0. 100 mn from Business Finland in February 2019, raising a total of EUR 0.

090 mn. Outi Korpilaakso, the founder, has embarked on this venture focusing on sustainability in fashion. Lovia specializes in designing and manufacturing handmade bags and jewelry using excess leather and textile materials. Its product range includes handbags such as crossbody bags, shoulder bags, belt bags, and totes, along with jewelry items like earrings and necklaces.

By repurposing materials that would otherwise be discarded, Lovia promotes sustainable fashion, with a target market that spans Europe, North America, and Australia, appealing to environmentally-conscious consumers seeking long-lasting designs. In 2023, Lovia reported a revenue of EUR 427,684. 60, with an EBITDA of EUR -227,802. 50, demonstrating its financial operations for the year.

Lovia Oy plans to expand its product offerings with new designs aimed at enhancing functionality and aesthetic appeal, set for launch later this year. The company is targeting growth in new geographic markets, specifically aiming to enter additional European and North American regions by 2024. The funds raised in the most recent deal will be allocated to support these initiatives and enhance production capabilities.