Net sales for lifestyle brand Björn Borg rose to SEK 989.7 million (€88.7m), an increase of 13.5 percent in FY24.
Swedish lifestyle brand Björn Borg has reported its FY 2024 with mostly positive numbers throughout.
Group net sales for Björn Borg amounted to SEK 989.7 million (€88.7m), an increase of 13.5 percent. On a currency-neutral basis, group net sales increased by 13.8 percent. Net sales for the company’s own e-commerce increased by 17.6 percent to SEK 181.0 million (€16.2m), while sales for both own e-commerce and e-tailers amounted to SEK 419.5 million (€37.6m), an increase of 17.1 percent.
The gross profit margin was 52.6 percent (up from 54.0%). On a currency-neutral basis, the gross profit margin was 52.5 percent, a decrease of 1.5 percentage points. Operating profit amounted to SEK 101.8 million (€9.1m), an increase of 1.3 percent. On a currency-neutral basis, operating profit amounted to SEK 94.5 million (€8.47m), a decrease of 6.0 percent.
“Our growth during the quarter was driven by all product areas, with particularly strong development in our two strategic focus areas: namely, footwear, up by 57 percent, and sports apparel, up by 44 percent,” said Björn Borg CEO Henrik Bunge.
Sports apparel increased 44%
Sports apparel performed strongly, growing 44 percent in the fourth quarter. Wholesale sales rose 101 percent, and e-commerce grew 16 percent. Sales to external distributors grew 14 percent, while own-store sales increased 7 percent. For the year, sports apparel grew 32 percent overall, with wholesale up 51 percent and own e-commerce up 23 percent.
Footwear sales grew after the company acquired the distribution operations of a bankrupt third party. Growth in the fourth quarter was 57 percent from the prior year. Footwear sales in the company’s e-commerce grew by 94 percent. The Footwear product area grew 36 percent year-over-year in 2024.
Underwear and bags
In Q4 2024, underwear sales rose 14 percent, and e-commerce sales rose 13 percent. Wholesale underwear sales increased 18 percent, but own-store sales fell 6 percent, because of a reduction in the number of stores last year. Sales to third-party distributors grew 15 percent in underwear. Overall, underwear sales grew 6 percent, with e-commerce showing the strongest growth, at 14 percent.
Bags delivered higher sales and grew 30 percent overall in the fourth quarter. Growth was driven primarily by the wholesale business, which increased by 39 percent. For the full year, bags grew 6 percent. Other product areas, such as swimwear and socks, saw a temporary decline of 20 percent in the quarter and an overall decline of 2 percent for the full year 2024.
Wholesale expanded by 60%
Sweden, Björn Borg’s largest market, recovered as planned, growing 43 percent in the quarter from last year’s fourth quarter. The wholesale business led this growth, expanding by 60 percent. For the full year, Sweden grew by 15 percent.
The Netherlands, the company’s second-largest market, grew by 2 percent in the fourth quarter and by 11 percent in 2024 overall. Footwear drove much of the market’s growth.
Germany grew 13 percent in the quarter and 21 percent for the year, driven by strong sell-through at major retailers.
Finland grew 5 percent in the quarter, with strong growth in intimate apparel.
Denmark grew 10 percent in the quarter, while Belgium declined 4 percent. Other smaller markets grew 24 percent versus last year’s fourth quarter.
