Sales increased by 28 percent and landed at SEK 3.5 billion. Pre-tax profit was close to half a billion kronor but ultimately landed at SEK 478 million (€43 million).
The low-price chain Lager 157, which sells fashion and sportswear directly to consumers, continues its strong growth. The annual report for 2024 shows that the company delivered a profit of SEK 478 million (€43 million) last year. This means that Lager 157 has grown by 28 percent.
Sales increased by 28 percent and landed at SEK 3.5 billion. Pre-tax profit was close to half a billion kronor but ultimately landed at SEK 478 million. This is an increase from SEK 313 million in 2023.
“A fantastic year.” That’s how Lager 157 founder Stefan Palm sums up last year in the annual report.
The home market of Sweden remains the company’s largest market, where sales rose by 16 percent to SEK 2.5 billion. In neighboring Finland, Norway and Denmark, the increase was significantly higher. In the newly opened German market, Lager 157 sold a modest SEK 8.6 million, but the first store did not open until December 2024.
Stefan Palm believes that the key to success is that the company works with basic clothing and uses industrial logic.
“We don’t start from the trend dimension like many others in the fashion industry,” says Palm. “We start from the supply chain, building an efficient organization, and we have a much narrower product range,” he concludes.
E-commerce accounted for 13.7 percent of sales.
There seems to be no stopping the low-price company, which will expand with more stores abroad. Lager 157 already has stores in Denmark, Norway, and Finland, and last fall it opened its first German store. The plan is now to open more stores, mainly in Norway and Finland, according to the company.
