The manufacturer of strollers and children’s furniture has reported a record breaking financial year and says it’s on track to double its size by 2025.
2021 saw Stokke’s pre-tax profits grow by a record 93.8%, leading to a 64.6% increase in EBIT. The company says its success is in part due to a new global strategy set by ceo Jacob Kragh, which sees the company return to its core products and markets.
The new approach has seen sales grow in America by 57.5% and sales of its Tripp Trapp chair rise by 39% globally in 2021 alone.
The growth has been further underpinned by four acquisitions during the last 12 months, including Babyzen, Mukako and Limas. In May, Stokke also announced the acquisition of Evomove.
Evomove is the company behind the Nomi chair, and its acquisition showcases Stokke’s expertise in the highchair category, while also bringing it to new markets and consumers.
Jacob Kragh commented: “We are seeing the Core 22 strategy announced last year delivering huge benefits for the Stokke brand from a financial but also brand recognition perspective. Our iconic products such as Tripp Trapp, Stokke, Sleepi, and Stokke Xplory continue to deliver fantastic sales but we’re already seeing significant opportunity with our new acquisitions and look forward to continuing to see them grow.
“In this regard, Stokke has also recently successfully launched a new addition to its globally renowned Stokke Xplory stroller product line: the Stokke Xplory X Signature.
“We’re also celebrating two business milestones this year – Tripp Trapp turns 50 and Stokke has been in business for 90 years in 2022. We’ll be marking these momentous occasions with celebratory moments for our customers, retailer and brand fans across the globe.”