Financial Report
May 2022
Stokke continues seeing record breaking growth
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Product and Market focus leads to 93.8% growth
20th of May 2022, Norway โ Stokke the Norwegian brand that manufactures premium childrenโs furniture and strollers, has announced today a record-breaking financial year and says it is on track to double in size by 2025. Its pre-tax profits in 2021 continued to grow by a record 93.8% leading to a 64.6% increase in EBIT.
The success is in part due to a new global strategy set by CEO Jacob Kragh that sees the company return to its core products and core markets. This approach has seen sales grow in America by 57.5% and sales of its iconic Tripp Trappยฎ chair rise by 39% globally in FY 2021 alone.
The success is in part due to a new global strategy set by CEO Jacob Kragh that sees the company return to its core products and core markets. This approach has seen sales grow in America by 57.5% and sales of its iconic Tripp Trappยฎ chair rise by 39% globally in FY 2021 alone.
Innovation & Acqusition
To strengthen Stokkeโs position as a strong premium childrenโs product business, the strategy is to win through both innovation and acquisitions. The growth approach has been underpinned by three acquisitions in the last 12 months: BABYZEN, MUKAKO and LIMAS. In May this year Stokke has announced their recent acquisition of EVOMOVE,the company behind the renowned Nomi chair, entering the Stokke family.
Jacob Kragh, CEO, Stokke, says: โWe are seeing the Core 22 strategy announced last year delivering huge benefits for the Stokke brand from a financial but also brand recognition perspective. Our iconic products such as Tripp Trappยฎ, Stokkeยฎ Sleepiโข and Stokkeยฎ Xploryยฎ continue to deliver fantastic sales but weโre already seeing significant opportunity with our new acquisitions and look forward to continuing to see them grow. In this regard, Stokke has also recently successfully launched a new addition to its globally renowned Stokkeยฎ Xploryยฎ stroller product line: the Stokkeยฎ Xploryยฎ X Signature.โ
Jacob Kragh, CEO, Stokke, says: โWe are seeing the Core 22 strategy announced last year delivering huge benefits for the Stokke brand from a financial but also brand recognition perspective. Our iconic products such as Tripp Trappยฎ, Stokkeยฎ Sleepiโข and Stokkeยฎ Xploryยฎ continue to deliver fantastic sales but weโre already seeing significant opportunity with our new acquisitions and look forward to continuing to see them grow. In this regard, Stokke has also recently successfully launched a new addition to its globally renowned Stokkeยฎ Xploryยฎ stroller product line: the Stokkeยฎ Xploryยฎ X Signature.โ
Looking Forward
To drive growth in 2021 and into the future, Stokke updated its brand platform and positioning. This brand positioning welcomes a new generation of parents to the Stokke brand, understanding the realities of navigating parenthood in a diverse, everchanging landscape while showcasing the brandโs iconic heritage. The new brand platform highlights Stokkeโs desire to be a reassuring presence during this exciting, sometimes overwhelming but always unique journey between parent and child.