Thule focuses on outdoor as currency effects dec - sportstextiles: Lea SportsTextiles

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Thule focuses on outdoor as currency effects decimate revenues

13/02/2015
The CEO of outdoor and backpack brand Thule has said he is happy with the sales for 2014, which grew 6% to SEK 4,693 million ($556,000), but added that currency adjustments wiped out large amounts of the gains.

Sales in the Outdoor & Bags segment, which it will now concentrate on after divesting the Trailer Division and the Towing Division during the last quarter, rose 11.4% but only 1.9% after currency adjustments, and 10% for the full year (5.1% after currency adjustments).

Magnus Welander said: “In the fourth quarter, we worked actively with our customers at the retailer level with follow up of the successful introductions of new products that we exhibited at the major international trade fairs in the second and third quarters ahead of the 2015 season. This year, these fairs were particularly exciting for us, since we presented in addition to a wide range of new products in the categories where we are market leader, a wide range of products in a number of new product categories.”

A new a distribution centre next to its largest assembly plant in Huta, Poland, went operational in January 2015, enabling more efficient distribution to the Eastern European market.

The group is also expanding its test centre in Hillerstorp, Sweden, which will have doubled testing capacity by autumn.

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Thule’s focus on backpacks pays off 11/11/2015
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