Helly Hansen announces record financial results
Norwegian outdoor clothing and footwear group Helly Hansen has reported a profit of $34.2 million for the financial year to 31 December 2010, representing an increase 39%.
The brand described 2010 as its “best year yet” in terms of financial performance.
Operating revenue for 2010 rose 10% compared to 2009 to $287.4 million. The group said that China and Canada were the two fastest growing markets for the business.
Helly Hansen said that its 2010 introduction into the Chinese market had “surpassed company expectations” while the company’s home market of Norway, which is also its largest territory, reached almost 30% year-on-year growth.
Peter Sjölander chief executive of the Helly Hansen Group said: “Helly Hansen is set to continue to grow: today we are a $350 million business, but we see our brand as capable of much more.
“We see Helly Hansen reaching the billion dollar mark sometime during the next five years. The simple explanation is that we have become better at what we do. Sales increased across all our product categories, which includes workwear, footwear, baselayer, sportswear as well as technical sailing, outdoor and ski apparel.”
