Polygiene successfully delivered continued strong growth in the third quarter of 2017. Net sales were MSEK 21.8, an increase of 46.2% compared to the same period last year. Since the beginning of 2017, the company has grown by 35.1 percent and our growth curve continues to climb, which is in line with the targets set by our company. This means that, by 2022, we will achieve a turnover of MSEK 400 with an operating margin (EBIT) of 20 percent.
During Q3, we focused on strengthening our position as the global market leader in odor control technology. To bolster our position, we continue to make investments in our organization, in activities with our partner brands, and in stronger trademark protection.
What’s more, we have formed strategic alliances – and conducted marketing activities – with new partner brands to further strengthen sales.
Polygiene made its debut in July at the world’s largest sportfishing trade show, ICAST 2017, held in Orlando, Florida, along with the outdoor and flyfishing brands Orvis and Simms. Polygiene is an integral part of Orvis’ Spring 2018 travel collection, following the trend where consumers demand odorless solutions as part of their lifestyles.
The travel market is one of the most rapidly growing market segments in North America, and we have a solid collaboration with Toad & Co, a leader in travel wear.
In September, TMF Quality Cycling Pads and Polygiene introduced odor control to the Italian company’s cycling pads for bike shorts, pants and tights. We see high growth potential in the bicycle market segment and aim to establish several strategic partnerships in 2018.
Polygiene has been nominated by the Swedish financial daily newspaper Dagens Industri for its prestigious Di Gasell (Gazelle) awards, which recognizes Sweden’s fastest growing and profitable companies
Through its partnership with the Korean brand Andar, Polygiene has stepped into the world of yoga this October. Our collaboration was appropriately initiated during a ceremony in the presence of the Ambassador of Sweden to Korea. Andar is the Republic of Korea’s leading brand for women’s active and everyday wear with apparel for yoga, Pilates and Zumba. Athleisure wear is a rapidly growing segment in Korea because the global yoga, health and wellness trends have now also gained a foothold in Asia.
In Japan, the iconic Champion brand, which is part of Hanesbrands Japan Inc., introduced Polygiene to its athletic wear collection. More than 70 different Polygiene-treated products are featured in the Champions 2017/18 collections and are sold under the C-ODORLESS by Polygiene® brand.
Our company also keeps interested parties up to date on the latest developments at Polygiene as well as for the odor control technology market through Polygiene News, which is published two to three times a year. News contains commercial updates and the latest happenings within the company’s global operations. To subscribe to the newsletter, please use the form below.
I expect the growth rate to remain high in the future. This, in combination with good margins and cost control, will provide Polygiene with all the prerequisites necessary for achieving our goals as we move forward.
In November, we will launch the book Love to Sweat, written by Per Grankvist, sustainability expert, author and journalist, together with our scientific adviser, Professor Gunnar Bengtsson. The goal of the book is to spread knowledge about what we as consumers can do to reduce the environmental impact of our clothing, a topic that is now gaining more attention in the media and various forums, and provides a holistic view of how we can take better care the Earth’s resources. It is a subject that lies close to our hearts as well as those of our partners and is completely in line with our message, Wear More. Wash Less®.
Finally, I am proud to report that the Polygiene has been nominated by the Swedish financial daily newspaper Dagens Industri for its prestigious Di Gasell (Gazelle) awards, which recognizes Sweden’s fastest growing and profitable companies. I see the nomination as an acknowledgement that our global organization and the singular focus on odor control that we have provided, and continue to provide, add significant value to our partners and, thereby, strong growth both for the company and for our brand.
Christian von Uthmann
Chief Executive Officer