Zound Industries continues to grow globally, reporting an increase in sales of 33 percent to 710 MSEK during the fourth quarter 2018 compared to the same period in 2017. For the full year, sales increased to 1,863 MSEK, which is also a 33 percent increase compared to 2017.
“I am very pleased with Zound’s development and the good momentum we have in both product categories – headphones and speakers - across all regions. Our growth would not have been possible without the fantastic work that the team do every day. We continue to scale up our business and look forward to 2019, especially in light of the extended Marshall license, the collaboration with adidas and our strong product portfolio,” comments Pernilla Ekman, CEO of Zound Industries.
“Zound continues on its growth journey. As shareholder and representative of the Board of Directors, I want to thank the whole organization for their fantastic work over the year. We have great belief in the strategy and feel confident about the future,” says Tommy Jacobson, Chairman of the Board.
Events during the quarter:
- In October, Zound Industries and Marshall Amplification extended their license agreement. The new agreement runs until December 31, 2033.
- In December, Monika Elling was welcomed to the Board of Directors. Monika brings extensive experience from her range of roles including CFO of Intrum Justitia and CEO of Poolia. She also currently sits on the Board of RnB Retail and Brands, Talent Eye AB and Ljung & Sjöberg AB.
- The adidas collaboration is progressing with the first products due to launch in the second half of 2019.
- Urbanears developed their “Listen to yourself” campaign including collaborations with artists like Tove Lo, Joy M’Batha and Yazbukey.
Zound Industries designs and develops speakers and headphones under the brand names Marshall and Urbanears. With a strong focus on innovative technology and user-centered design, Zound has gone from strength to strength since first hitting the market in 2008, launching a wide range of iconic, award-winning products. Zound currently has around 200 employees, with offices in Stockholm, New York, Paris, Shenzhen and Hong Kong. In 2017 turnover hit an all-time high of SEK 1.4 billion. In February 2018, Zound announced a new partnership with Adidas, with initial products due to hit the market in 2019.