The encyclopedia · Strategy & Leadership · Strategic decision · 2007–2024
Triwa, the Swedish watch brand worn by Beyoncé, went bankrupt in 2024
Swedish watch brand Triwa grew from a Stockholm startup to a celebrity favorite, hit 70M SEK in revenue, then filed for bankruptcy in February 2024.
Triwa AB · 2024
What happened
Triwa was founded in Stockholm in 2007 by Ludvig Scheja, Harald Wachtmeister, Tobias Eriksson, and Didrik Wachtmeister. The brand built its identity around colorful, minimalist watches made from unconventional materials — recycled ocean plastic, fossil-free steel, and melted-down weapons. The concept resonated internationally, and Triwa grew from a Swedish microbrand into an export brand with celebrity clients including Beyoncé, Elton John, and Princess Madeleine of Sweden.
By 2016, Triwa reached its peak revenue of 70 million Swedish kronor (approximately $6.7 million). The brand sold through its own e-commerce channel and through multi-brand retailers across Europe, Asia, and North America. Its sustainable materials story and bold colors had carved out a distinctive niche in the crowded fashion-watch segment.
Revenue declined steadily after 2016. The fashion-watch market was under pressure from smartwatches and changing consumer tastes. Triwa's multi-brand retail expansion increased overhead without delivering proportional returns. By early 2024, the company was insolvent. On February 12, 2024, the Stockholm District Court declared Triwa AB bankrupt. The company was put up for sale. The bankruptcy estate was concluded on March 5, 2026, and the brand was acquired by a group led by retail veteran David Wendel.
Why it happened
- Triwa's multi-brand retail expansion increased overhead faster than revenue, and the fashion-watch category was already shrinking under pressure from smartwatches and changing consumer tastes.
- The brand relied on a sustainability story, but when the novelty wore off, premium pricing was hard to justify against cheaper fashion watches and functional smartwatches.
- Peak revenue of 70M SEK was modest for a brand with a global retail footprint, and the margin structure could not support the cost of maintaining multi-brand distribution across multiple continents.
- Triwa was a single-product-category company with no diversification — when the fashion-watch segment declined, there was no second line of revenue to absorb the shock.
The lesson
A sustainability story and celebrity endorsements can build a brand, but they cannot sustain it when the category itself is in decline. Diversify before the trend turns.
Aftermath
Triwa was declared bankrupt by the Stockholm District Court on February 12, 2024. The bankruptcy estate was concluded on March 5, 2026. The brand, inventory, and intellectual property were acquired by a group led by retail veteran David Wendel. The brand continues to operate under new ownership.
Sources
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