Musti, the nordic pet care retailer, assumes to entert he market delivering yearly sales of half a billion euros by 2024.
The company, that could celebrate the opening of more than 20 stores over the time, has revealed net sales of of €92.4M ($97.4M) compared to €82.4 ($86.9M) in the same interval of 2021. From October 2021 to March 2022, the company could record sales amounting to €193.8M ($204.3M), an increase of 16.2%.
CEO David Rönnberg called that “a very strong first quarter”. Due to price inflation and the war, the end of the year and the beginning of 2022 turned into a “turbulent” one.
“It has been reported that the economy is suffering from declining consumer confidence with consumers tightening their spending. In Musti’s case this impacted February and early March with the second half of March seeing a return to normal levels, continuing into April where we have seen strong sales growth of 18% over the comparison month in 2021,” he said.
Accordin to the empire, there has been a share increase of its own products by 1.6% to 53% in the first half of the year. In the last three months of 2021, Musti’s sales increased by 20.2% to € 101.3 million ($115.6M).
Musti just employed new managers for their markets in Norway, Sweden and Finland and for its online business. According to Rönnberg, the company now has the opportunity “both to reach scale effects and improve efficiency and to further enhance the customer focus orientation in all the markets.”
Regarding the current development, Musti expects to reach €500 million ($527.2M) in net sales by 2024