NA-KD reports 57% growth for 2020 and announces its first quarter with EBITDA profitability
July 8th, 2021
Sweden, 8, July 2021 // NA-KD reports a positive development for 2020 where sales landed at almost SEK 2 billion despite the pandemic's impact on trade. NA-KD.com has now sold fashion to two million unique customers from over 90+ countries in 2020. Despite the company's wholesale and store sales being negatively affected by the pandemic, NA-KD succeeded in 2020 in achieving
its first profitable quarter.
Total net sales ended at SEK 2 billion. Despite continued restrictions in retail with closed stores, NA-KD managed to increase the total growth rate in 2020 and grew by 75% during the second quarter compared with the same period last year. Growth was mainly driven by sales to end consumers via the website (NA KD.com), which increased by 103% in Q2 compared with the previous year.
CEO & Founder, Jarno Vanhatapio on the sales growth:
“Despite the pandemic during the year and reduced physical trade in Europe, we increased our online sales growth and we sold products for SEK 2 billion net, where we also achieved our first profitable quarter since the start. I am proud of our results and the commitment and drive of our employees during this long period of telework. NA-KD's profitable growth proves that the company has a strong customer base and a unique customer offering in fashion.”
"In the first half of 2021, we can state that despite disruptions in the world's logistics network, we have managed to maintain a growth rate that is significantly higher than the industry. This means that we take market shares from our competitors and in a world where tomorrow's winners are shaped, we still prioritize a balance between growth of new customers and annual profit improvements As we had an EBITDA of -1.7% for the year, we can choose to go to full-year profitability in 2021 as the company has had a profit development with added volume every year. We now balance this against growth "
VP Commercial & Brand, Sarah Krusell comments on the development:
“We saw the COVID-19 outbreak as an opportunity to focus on what is important to NA-KD: our customers and our brand. Our focus on a wide product range, availability, fantastic customer experience and strong visual brand representation has generated a strong audience from our customers. In Q2 2020, we continued to outperform and grow compared to our competitors both in terms of growth and engagement in our social channels. We have gained a record number of new followers and are fantastically proud of the commitment in our social channels, which places us in 2nd place out of 48 fashion companies. ”
For more information, contact:
PR Director, Sanja Tegeltija, firstname.lastname@example.org
Swedish NA-KD launched in January 2016 with a goal to deliver the latest trends at an affordable price. With a close connection to the biggest influencers in Europe, NA-KD has quickly established itself as a leading fashion player for Millennials and Gen Z. Currently, NA-KD has over 10 million monthly visitors to na-kd.com and 3,3 million followers in social media - making it one of the fastest growing brands in the world. Being truly global, NA-KD delivers the latest trends to more than 100 countries every month and is represented by over 600 retailers world-wide.