Following a decline from the record year of 2022, revenues continue to decrease for Sandqvist, a company founded in 2004 by brothers Anton and Daniel Sandqvist together with Sebastian Westin.
The latest annual report for 2025 shows that the company's turnover fell by 28 percent to SEK 63.2 million, compared to SEK 87.6 million the previous year.
The operating result for the year landed at minus SEK 11 million, a level unchanged from the previous year. Total sales have been slower than expected, but the company reports that their online sales are positive.
Closing Stores
To adapt to the lower turnover, Sandqvist is implementing a reorganization and several cost-saving measures. The company has decided to wind down parts of its foreign operations.
The plan for 2026 is to close physical stores and potentially liquidate certain subsidiaries. In connection with this, the number of employees in the group has decreased from 31 to 18 people.
The Group is focusing on strengthening its core business and creating a more efficient and long-term sustainable organizational structure, the company states in its annual report.