NEW YORK, June 15, 2023 /PRNewswire/ — Stokke, the Norwegian leading children’s premium products company, best known for its iconic Tripp Trapp® chair, today announces the achievement of record level revenue growth in 2022.
In its ongoing mission to create products that bring parents closer to their children, Stokke effectively rose above a challenging economic backdrop of global inflation and slowed consumer spending, strengthening its position in the children’s product market. Sales revenue rose 35% in 2022, a year in which Stokke’s iconic Tripp Trapp chair also celebrated its 50th anniversary.
Stokke plans to continue to build on its robust growth strategy which incorporates selectively acquiring products and brands that have a strong presence and connection in their regional markets. Over the last 18 months Stokke completed four notable acquisitions, which all align with Stokke’s mission and aid in a child’s development in their early years. Acquisitions include:
- The Nomi chair
- German baby carrier company LIMAS
- Mukako, the Italian multi-activity play table brand
- BABYZEN, makers of the popular YOYO all-in-one lightweight stroller.
“Our profitable business model allows us to invest in our future – through in-house innovation and external acquisitions. We are eager to acquire more companies that share our beliefs around child development, design, and sustainability,” said Jacob Kragh, CEO of Stokke. “We will leverage our global presence to take popular regional brands international and maximize their full potential.”
In addition to a successful year of acquisitions, a multinational team of almost 400 global members was responsible for various key product development and launches in 2022 including:
- New color Stokke® Flexi Bath® Green
- Stokke® MuTable launch
- Stokke® Xplory® X Signature
- Cloudsleeper Jetkids by Stokke®
- Tripp Trapp® and Stokke® Steps cushion news launch
- Stokke® Sleepi relaunch + Dresser, Changer and Changing table launch
- New color and cushion launch for Tripp Trapp®
- New color launches for Stokke® Xplory® X and BABYZEN YOYO
Stokke’s annual results also coincided with its first ever sustainability report. The report outlines the brand’s commitment to implementing fair practices in their supply chain and using materials that meet their high sustainability standards.
For more information, please visit www.stokke.com.
Founded in Ålesund Norway in 1932, Stokke began life as a manufacturer of high-quality furniture. The first product for children was launched in 1972 –the iconic Tripp Trapp® chair, which has sold more than 14 million units and remains a core product in the Stokke collection. Since 2006 Stokke has focused exclusively on designing premium children ́s furniture and equipment within the highchair, stroller, baby carrier, home textiles and nursery segments. The products promote bonding between parent and child and ensure healthy development for young children. Owned and operated by three generations of the Stokke family until 2014, Stokke was acquired by Belgium based NXMH, wholly owned by NXC in South Korea. Stokke has worldwide distribution in over 70 countries, as well as its own subsidiaries in Europe, the United States and Asia.
Originally published at https://www.prnewswire.com/news-releases/stokke-continues-acquisition-drive-as-sales-climb-35-301851552.html
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