Zound increased sales by 8 percent despite supply challenges
In the second quarter, Zound posted an eight percent increase in net sales with demand for its products exceeding available supply. Total revenues amounted to 380.2 MSEK compared to 352.1 MSEK for the same period last year.
“The team is firing on all cylinders to bring our new strategy to life. We will be product obsessed, digitally connected, innovation driven, sustainability committed, diversity and inclusion minded in everything we do moving forward. Our recent launches exemplify our product obsession, and our growth in digital channels speaks volume to our focus on digital performance,” said Jeremy de Maillard, CEO at Zound Industries.
Zound’s commitment to the world is to bring life to sound. With the March-release of the first true wireless headphones for Marshall, the Mode II – followed by an additional two releases last week, the Minor III and the Motif A.N.C – Zound has set themselves up to capture even more of the demand in the headphone category.
“Our offering continues to resonate well with consumers, they are choosing us by putting their money into our products. We’re in a good position going into what has traditionally been our busiest half of the year,” comments de Maillard.
The continued momentum for Zound’s digital channels, combined with more markets opening up and consumers returning to stores, fueled Zound’s return to year-on-year growth in the second quarter.
Zound has been held back by continued problems sourcing key components and other supply chain challenges which are affecting most industries, and notably Zound’s entire sector. Zound expects these challenges to continue into 2022 but is taking actions to minimize their impact moving forward. On the other hand, the strong demand and low inventory have helped Zound maintain healthy profit margins throughout the period.
True to their DNA, Zound continues to push innovation within audio electronics and, back in July, unveiled its new adidas RPT-02-SOL self-charging sports headphones powered by light. The product will be released early 2022 and has already garnered a lot of interest.
“We are building up momentum again and starting to show what we can do. We are now fully focused on the second half of 2021. We have some great products coming up that will help cement our position as the most exciting challenger and best alternative to the traditional players in our industry,” concludes de Maillard
For more information, please contact
Gustav Dahlgren, Head of Communications, Zound Industries
press@zoundindustries.com | +46 73 802 95 53
About Zound Industries International AB
Zound Industries brings life to sound through the adidas, Marshall and Urbanears brands, offering a wide range of iconic and award-winning products. Zound is a global company with offices in Stockholm, New York, London, Paris, Shenzhen and Hong Kong.
