Swedish sports fashion brand Björn Borg was able to take the brand’s momentum in Q1 of 2024, resulting in an even stronger second quarter where sales increased 30 percent to 220.8 million Swedish kroner (€19.1m). By category, shoes stood out with a growth of 199 percent, followed by apparel at 43 percent and bags that grew 33 percent. The biggest category for Björn Borg is underwear and it stood for 45 percent of the total sales. Underwear grew 6 percent during Q2.
“The positive trend across all categories clearly confirms that our brand as our most important asset continues to strengthen, said Björn Borg CEO Henrik Bunge.
Group net sales increased by 28.3 percent. According to the company, the main explanation for the increase between Q1 and Q2 was the takeover of the distribution of footwear, which partly created a positive timing effect due to the delay in distribution, as well as the distribution of footwear into what were new markets for the company.
Björn Borg´s products are sold in three main sales channels, all of which showed positive development during Q2. The brand’s largest channel is the wholesale channel, which grew by 50 percent. Within the wholesale channel, Björn Borg saw good development from its external e-retailers, with an increase of 20 percent. The strongest growth was within physical wholesale sales, which increased by 72 percent. Björn Borg’s own e-commerce continued to develop positively and grew by 9 percent.
Group net sales for the first half year amounted to SEK 470.0 million (€40.7m), an increase of 13.9 percent. Currency neutral, net sales increased by 13.6 percent. Net sales for own e-commerce increased by 14.8 percent to SEK 81.4 million (€7.1m), while net sales for own e-commerce and e-tailers amounted to SEK 195.1 million (€16.9m), an increase of 14.9 percent.
Björn Borg products are sold in some thirty markets, of which Sweden (33 percent of total share) and the Netherlands (29 percent) are the largest followed by Germany (10 percent), Finland and Belgium (9 percent each).
