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Another strong year for Helly Hansen

Norwegian outdoor brand Helly Hansen has reported revenue of approximately $425 million in 2018, an increase of 29% compared to the previous year. It is the fourth-consecutive year of growth for the company. 

“The team delivered a strong year during a period of substantial change,” said Paul Stoneham, CEO of Helly Hansen. “We have successfully continued building a more consumer-centric, focused and financially strong company through investing in brand development and innovation funded by increased operating leverage.”

He added that the brand has a positive outlook for 2019, explaining that it expects to see growth in its direct-to-consumer business and “robust performance” in North America and Europe. 

Retail group Canadian Tire acquired Helly Hansen in July 2018 for C$985 million (US$771 million at the time of the purchase). It had previously stocked the Norwegian brand’s products in its stores. 

Image credit: Matt Knighton.