Strax: Urbanista Accelerates Growth and Gains Impressive Market Share
STOCKHOLM, July 30, 2019 /PRNewswire/ -- Urbanista is a leading lifestyle audio brand in the Nordics making products dedicated to urban lifestyle and inspired by cities around the world. Urbanista has been a wholly owned subsidiary of STRAX since 2014 and has experienced high double-digit growth since the acquisition, primarily driven by the strong Nordic presence.
Recent data from GfK reveals that Urbanista has established a very strong position in the important and fast growing True Wireless Headsets category with 20 percent of sold units in Sweden in June 2019 and that Urbanista has doubled the market share during the past twelve months in the UK. Urbanista has furthermore had recent success in the US and Canada with the successful launch of the true wireless headset "Stockholm" now sold in more than 3,000 retail outlets.
"We are very pleased with the development of Urbanista since the acquisition in 2014, both as a brand and from a financial perspective. Already in 2018 Urbanista reached a considerable size with a turnover of approximately MEUR 14 with continuous solid profitability. In 2019 growth is at approximately 50 percent so far and increasing, thereof eCommerce growth of 400%, giving us good hopes for a remarkably strong year. Considering Urbanista's strong position in both online and offline channels I am convinced Urbanista represents a great asset and value for STRAX" says Gudmundur Palmason, CEO, STRAX.
About Urbanista
Urbanista has been making audio products rooted in Scandinavian tradition since 2010. Our products are inspired by cities, freedom and with the urban lifestyle in mind. We design for life in motion and dedicate our products to urban people, no matter where they call home. Urbanista is available online as well as in 20,000 stores and 80 countries around the world. For more information visit www.urbanista.com
About STRAX
STRAX is a market-leading global company specializing in mobile accessories. STRAX has built a House of Brands to complement its value-added customer specific solutions and services. STRAX House of Brands includes proprietary brands: XQISIT, Urbanista, THOR, CLCKR and licensed brands: adidas and bugatti.
In addition, STRAX represents over 40 major mobile accessory brands. STRAX sells into all key channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers and direct to consumers online. STRAX was founded in Miami and Hong Kong in 1995 and has since grown across the world. Today, STRAX has over 190 employees in 13 countries with its operational HQ and logistics center based in Germany. STRAX is listed on the Nasdaq Stockholm Stock Exchange.
For further information please contact:
Gudmundur Palmason
CEO
STRAX AB
+46-8-545-017-50
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The following files are available for download:
Press release Urbanista 190730 |
SOURCE Strax
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