The Slovenian investment fund Advance Capital Partners has reached an agreement to acquire a majority 60% stake in Mass, one of the leading regional retail chains specializing in footwear and fashion accessories. Mass operates in Slovenia, Croatia, and Austria, with plans to expand into additional Central and Eastern European markets. The transaction is expected to close in the autumn of 2025, following the receipt of all necessary regulatory approvals.
Mass was founded in 1990 in Ljubljana and entered the Croatian market roughly twenty years later, followed by Austria in 2024. Currently, it employs more than 500 people and manages approximately 75 stores under the Mass and Skechers brands. In addition to physical retail, Mass is actively developing its e-commerce platform, aiming for double-digit revenue growth and to exceed €110 million in sales by 2025.
With this majority stake acquisition, Advance Capital Partners aims to strengthen the company’s market position further and accelerate growth across existing markets and new territories. The goal is to open around 100 new stores over the next five years and to triple annual revenue to approximately €300 million by expanding retail and online presence in countries such as the Czech Republic, Bulgaria, Romania, and beyond into additional Central and Eastern European markets.
The founder and CEO of Mass, Sašo Apostolovski, along with other partners, will retain a 40% equity stake and continue to actively participate in the company’s business after the deal is concluded. Apostolovski highlighted the ambitious growth plans and the strong potential of the regional footwear and fashion accessories market, emphasizing that consumer spending in this part of Europe is expected to grow at a rate above the European average.
Advance Capital Partners, with over €250 million under management, is well-known in the region for supporting companies in specialized retail, energy solutions, mobility, IT, health tech, and other key sectors. Their expertise and capital injection are expected to drive Mass’s transformation into a leading omnichannel retailer in Central and Eastern Europe.
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