Revenues at Stokke jumped to record levels last year, while EBITDA profits rose 9% to NOK 718m.
The company announced it is planning further acquisitions to strengthen its global position having acquired Evomove last May. The acquisition of the company behind the Nomi chair was Stokke’s fourth deal since 2021, and followed the acquisitions of German baby carrier brand, Limas; Italian multi-activity play table brand, Mukako; and Babyzen, makers of the YOYO all-in-one lightweight stroller.
Jacob Kragh, ceo of Stokke said: “Our 35% growth means that more families around the world are using our products, which are designed to bring children close to their caregivers – most famously with the Tripp Trapp highchair.
“Connections between children and their caregivers are fundamental to a child’s development in their early years and this is why we continue to invest not only in products, but also in academic research in this area.”
The company also signalled that it will continue with its strategy to build a robust expanded global business by selectively acquiring products and brands with a strong presence in their regional markets.
Jacob continued: “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. We will leverage our global presence to take popular regional brands internationals and maximise their full potential.”
Stokke’s annual results coincided with its first sustainability report, which sets out its ESG ambitions. These include reducing emissions, implementing a circular business model, starting with recycled polyester, and ensuring all materials used are ethically sourced.
In 2022, Stokke signed the Science Based Target Initiative to measure and reduce Scope 1, 2, and 3 emissions and committed to the responsible sourcing of wood for its products. The company wants all of its wood products to be FSC certified by 2030.
Stokke also wants to implement fair practices in its supply chain and in 2022, also became a member of SEDEX.
The report also highlights the company’s Child Development and Sustainability Strategy based on five of the UN Sustainable Development Goals, which includes a three-year partnership with the University of Copenhagen, where it will fund a three-year study on learning and social development at the dining table.
Jacob added: “Early childhood development is one of the most important critical paths in a child’s life, and we believe we have an important role to play in how families come together around mealtimes. This partnership aligns well with our mission to strengthen the connection between parent and child, and to promote child development.
“Our overall sustainability strategy aspires to make Stokke the obvious choice for parents who want to see change. We believe that the most sustainable products are the ones you never have to replace. Our products are not only designed with superior functionality for comfort, but also to bring children closer to their parents – and importantly, they have been proven to last.”
