Sneakersnstuff grew from Stockholm shop into €100M empire — then overexpansion killed it

Sneakersnstuff (SNS) was founded in 1999 in Stockholm by Erik Manzano Fagerlind and Peter Jansson. What began as a single sneaker store grew into one of Europe's most influential streetwear retailers, with flagship stores in Stockholm, London, Paris, Berlin, and Tokyo, plus a US presence. At its peak in 2021–2022, SNS generated revenue in the hundreds of millions of euros, riding the COVID-era sneaker boom.

The post-COVID hangover hit SNS hard. The company had expanded aggressively during the boom — opening stores in Tokyo, New York, and Los Angeles — but when the hype economy cooled, demand for limited-edition sneakers collapsed. High inflation and shifting consumer behavior compounded the problem. Management had pivoted toward digital and data-driven strategies, neglecting SNS's traditional strength: community-driven culture and events.

By late 2024, SNS was in trouble. A 20 million SEK capital injection proved insufficient. The company closed its US and Tokyo locations as losses mounted. In January 2025, Sneakersnstuff filed for bankruptcy in Sweden, with losses approaching $14.5 million.

Just one month later, in February 2025, German investment firm Reziprok Ventures acquired SNS out of bankruptcy — purchasing the entire estate including intellectual property, inventory, and subsidiaries. Co-founder Erik Manzano Fagerlind returned as CEO. The new owners committed to a smaller, community-focused strategy: reopening the Stockholm flagship with a storytelling-oriented footprint, and energizing the remaining London, Paris, and Berlin stores. SNS survived, but the 26-year-old company that had defined European sneaker culture was fundamentally reshaped.