The Swedish running boom has not yet subsided – quite the opposite. Löplabbet, Sweden’s largest chain for running gear, with eight stores and e-commerce, increased its turnover by 31 percent in the first half of 2024. Last year, the chain had a turnover of SEK 113 million (€9.81m) and made a profit of SEK 7 million (€0.61m).
According to the company’s person in charge, Stellan Kinell, the main reason is that Löplabbet, despite trends that have come and gone, has kept its focus on running, where it has been an expert for 40 years.
”We have increased our turnover quarter after quarter, even during and after the pandemic,” Kinell says. “This is largely thanks to sticking to running and running alone. When padel was big, we got tips like ‘bring in padel shoes, you’ll sell tons!’ But we said no. I’m happy about that today. Our sales in our physical stores has had a positive development, but above all our e-commerce has gone like a train in recent years. In recent years, e-commerce has gone from a turnover of 4 million to 30 million in four years. Many players usually refer to their physical stores as flagship stores. For us, our e-commerce is our flagship store. There we can showcase everything we have both in terms of products and knowledge in the form of product guides, care advice and lots of running tips.”
SGI Europe: How have different categories sold in 2024?
Stellan Kinell: We have grown well in footwear, and here, the new generation of shoes with new technologies in the form of midsoles and overlays have sold really well. Then we see a huge interest in more expensive sports watches among customers, with more and more people buying one for their training. In addition, we have seen a big increase in the energy category. There is no limit to the amount of gels, bars and drinks runners buy, whether they are running 5 km or an ultra race. Clothing, on the other hand, is pretty much stagnant this year.
What is it that has made you successful while several segments and industry colleagues are having a much tougher time now after the pandemic?
Firstly, running has been incredibly popular in Sweden. It’s about everything from lots of small races popping up, with enthusiasts starting races all over the country, to the Stockholm Marathon having a record year after the pandemic, with 23,000 registered, and then the world’s largest half-marathon, Göreborgsvarvet, drawing 50,000. There’s interest in running everywhere in Sweden.
I also want to emphasize our fitting process, which is unique in the market. There’s no other running store in Sweden that uses force sensors and 3D cameras to try out absolutely the right shoe for each customer. Then there’s the fact that we as a chain of stores have developed a strong voice in running over the past ten years. If, like us, you do something with passion and dedication and have your ear to the ground, you get the leverage effect that we see now. Our social media followers are growing, and our customers use our website as an encyclopedia when they need information about running in different ways.
Is this the best year ever for Löplabbet?
Yes, I would say so. We once had 22 stores, including two franchise stores, with a turnover that peaked at SEK 138 million [€12.0m], but at the same time made a loss. Since 2018, when we streamlined to eight stores and an e-commerce, this is an all-time high.
Can you increase further, or is the Swedish running market starting to saturate?
We are quite convinced that the market for running will increase further next year. It may not mean that we take more market share, but sales of running equipment will increase overall in Sweden even in 2024.
Does this mean that you will open more stores?
Yes. We see that there is a need for Löplabbet to have more stores, and we are definitely interested in opening more. However, the rent for shops is sometimes problematic in Sweden. It would be easier to open more stores if property owners were more interested in sharing the risks involved in opening them and could also be more dynamic in their rent setting. I can’t say anything now about possible store openings, but it will soon be spring again. And I’m absolutely convinced that we will find new store locations in 2024. Our establishment plan includes the goal of opening five more stores, which would give 13 Löplabbet stores. It feels like an optimal number for Sweden as the market looks ahead.
