Hummel, the nearly 100-year-old Danish company, has reported its best annual results ever. Net profit reached 115 million Danish Kroner (€16.6m) in 2021 as turnover increased by DKK 511 million to DKK 1.858 billion (€249.7m). Wholesale revenues, which grew by 30 percent, remain a priority of the company that also saw its digital/e-commerce sales double last year.
Brand sales growth in Germany has tripled over the last three years to approach an annual turnover of nearly DKK 1 billion (€144.7m). Additionally, the Scandinavian markets of Denmark, Sweden and Norway realized a collective sales increase of 35 percent in 2021. The annual results include turnover from the company’s three additional labels— Newline (sportswear), Halo (fashionwear) and Sometime Soon (kids’ fashion).
“As a sports brand, we have a natural winning mentality, and it really shines through our employees,” commented Allan Vad Nielsen, CEO of Hummel. “Their engagement and adaptability have helped us deliver a fantastic comeback in 2021.”
Hummel, which has high expectations for its new football sponsorship of FC Köln that commences this summer, says it has had a positive start to 2022 but remains prepared for any necessary change that market conditions may warrant.
