Musti Group sees more growth opportunities in the market
Musti Group plc Press Release 9 June 2020 at 9.00 a.m.
Musti Group sees more growth opportunities in the market
Musti Group will open 20-25 new own stores during the reporting year 2020 as a change to what has previously been communicated in accordance with the quarterly report in May. The estimate communicated earlier in the year was to open 15-20 stores during the reporting year.
The increase in the new own store openings is due to increase in the demand for pet products during spring 2020 and thus higher growth expectations for the market. According to the Swedish Kennel Club the number of new registered puppies has grown by 13% during April – May. Similar development has also been seen in Finland and Norway.
Group CEO David Rönnberg: ‘Musti’s omnichannel business model combines the convenience of both store and online purchases. Stores provide an essential and convenient touch point and allow Pet Parents to explore products, receive trusted advice from Musti Experts and access pet services. The physical in-store offering is complemented by Musti’s online channel.
The strong growth in the previous quarter combined with the increased demand gives us even better opportunities to grow market share utilizing our channel agnostic omnichannel business model in the future. The expanding market share and the additional store openings allow us to reach even more customers with our omnichannel business model and according to our strategy to continue developing our value proposition to better serve our customers in the Nordic markets’.
Musti Group plc
David Rönnberg
CEO
Contact information:
Essi Nikitin
Head of Investor Relations and Communications
tel. +358 50 581 1455, essi.nikitin@mustigroup.com
Distribution:
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www.mustigroup.com
Musti Group in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.
Musti Group’s net sales were EUR 247 million in the financial year 2019. At the end of the financial year 2019, the company had 1,100 employees, over one million loyal customers and 277 stores.
