Flying Tiger Copenhagen reports record revenue despite transition year

May 25, 2018

Flying Tiger Copenhagen reports record revenue despite transition year

After having introduced a more focused strategy and a new executive management, Flying Tiger Copenhagen in 2017 exceeded DKK 5 billion in revenue for the first time as well as posting an increased adjusted EBITDA. Flying Tiger Copenhagen exited 2017 on a much better note than the company entered the year – a positive trend that has carried on into 2018. This year, the company intends to open store number 1,000 as well as initiating its ambitious USA-expansion.

Flying Tiger Copenhagen stores are popping up all over the world. By the end of 2017, the Danish company reached a total of 863 stores in 30 countries on 3 continents. With the opening of new stores in Barcelona, Rome, Seoul, Warsaw, Hamburg, Palermo, Edinburgh, just to name some, over the last few months, the number of stores has already surpassed 900. Flying Tiger Copenhagen is a Danish retail company with global success.

The rapid expansion pace is a central reason why Flying Tiger Copenhagen today reports a financial result for 2017, which shows a best ever revenue and an improved adjusted EBITDA.

In 2017 the revenue increased by 18 percent compared to 2016 and for the very first time exceeded DKK 5 billion – more than double up compared to 2014. Furthermore, the adjusted EBITDA grew DKK 17 million to DKK 460 million in a 2017, where Q3 and Q4 were better than expected.

”Flying Tiger Copenhagen is heading for a bright and exciting future. Every single day we do our very best and put a great deal of thought into selecting and designing products our customers need or dream of – as well as those they didn’t even know existed. Our mission is to inspire people to spend more time together, and I am proud that our products in 2017 have made a huge difference for even more people all over the world,” says Mette Maix, CEO of Flying Tiger Copenhagen.

The record revenue comes at a time where the global retail market is under pressure. Moreover, 2017 has been a year of transition for Flying Tiger Copenhagen. The new executive management performed a clean-up and launched a new strategy for the company, including an ambitious expansion plan and a return to the core DNA of Flying Tiger Copenhagen: To surprise and to inspire people to spend more time together doing things that strengthen their relationship - without having to spend a fortune. 

”It was never a secret that 2017 was a year of transition for Flying Tiger Copenhagen. We are not entirely there yet, but we have come a long way and we are definitely on the right track. Naturally, there is room for improvement when it comes to profits, but I am happy that our refocusing of the company and the strategy as well as our ambitious expansion plans have already delivered results. We ended 2017 much better than where we started, and we can see that the positive trend has carried on into the first quarter of 2018.”

Just recently, Flying Tiger Copenhagen opened its store number 900 worldwide, and Mette Maix expects even more milestones in 2018:

”We have big ambitions and several exciting initiatives in the pipeline. The goal for 2018 is to open store number 1,000 before the end of the year. I am expecting 2018 to be a significantly better year – both on our important international markets and in Denmark. I am also looking forward to kickstarting our ambitious expansion plan in America in the second half of 2018,” Mette Maix concludes.

Interested in reading more? Click here to see the full 2017 Annual Report.

About Flying Tiger Copenhagen

  • Established in 1995 by Lennart Lajboschitz. Today led by CEO Mette Maix
  • Revenue in 2017: DKK 5.032 billion
  • Introduces 300 new products in the stores every single month
  • 5,800 employees globally
  • 900 stores in 30 countries on 3 continents (Europe, Asia and North America)
  • 2-3 new store-openings per week around the world
  • In our stores you can find things for your home, your hobby, for fun and party, great gifts and award-winning design. All at affordable prices.

 

For further information please contact:
Jakob Stig Jørgensen
+45 29709495
jj@ulvemanborsting.com

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