Norwegian sports retailer XXL Sport & Villmark AS has signed an agreement with domestic peer Brav AS to acquire local outdoor apparel brand Ulvang. The specific terms of the transaction were not disclosed.
Founded in 1995 and headquartered in Lillehammer, Norway, Ulvang was established by Vegard Ulvang, a legendary Norwegian cross-country skier who won three Olympic gold medals. Drawing on his own experience, he initially created wool socks, which quickly achieved success in a market then dominated by synthetic fibers.
Since then, the Ulvang brand has become known for its wool materials and has built a strong market position in categories including wool base layers, wool sweaters and knit beanies, serving cross-country skiing, hiking, expedition and everyday outdoor scenarios.
In 2004, Ulvang was acquired by Norwegian sports and outdoor group Brav AS, which also owns brands including Swix, Toko, Lundhags and Helsport.
XXL Sport & Villmark AS was founded in 2000 by Norwegian entrepreneur Øivind Tidemandsen and is headquartered in Oslo. It is a leading sports retailer in the Nordic region, selling apparel, footwear, equipment and accessories for a wide range of sports and outdoor activities. It currently operates more than 80 large-format sporting goods stores across the Nordic region and parts of Europe.
In 2010, private equity firm EQT acquired a majority stake in XXL. In 2014, XXL was listed on the Oslo Stock Exchange. In 2025, XXL was acquired by British fashion retail group Frasers and delisted.
Commenting on the acquisition, XXL CEO Nick Fox said: "Ulvang is one of the strongest and best-known wool apparel brands in the Nordic region. The brand has a unique history and a solid position in categories such as wool underwear, wool socks and wool sweaters. We see significant growth potential for the brand and plan to invest resources in product development, distribution and market exposure. Leveraging XXL's strong market foundation in the Nordic region, we have both the will and the ability to continue developing Ulvang, reaching more consumers and expanding into more markets in the future."
｜Source: Norwegian News Agency, XXL official website
｜Image credit: Ulvang official Instagram
｜Editor: LuxeCO
