Since its launch over eight decades ago, the shoe manufacturer Kavat has been run by the same family. Now, the ownership structure is changing.
In the autumn of 2022, Erik Thyrelius, then 27 years old, assumed the position of CEO, succeeding Magnus Ericson. Together with Sales Manager Stina Aronsson, he has now chosen to buy out the founding family and take over the majority of shares in the company.
Decreased Turnover and Increased Loss
The change of ownership is taking place after a period of economic challenges for the company. According to the annual report for 2024, which is the latest published financial statement as the figures for 2025 have not yet been released, turnover fell by 8 percent. It landed at SEK 68.7 million, compared to SEK 74.7 million the previous year.
Operating profit also declined, ending at a loss of SEK -6.4 million, compared to a loss of SEK -4 million in the previous year.
The company's documents show that the result has been affected by one-time costs in connection with the closure of the company's production in Bosnia. At the same time, the company has dealt with delivery delays and external retailers who have had problems with their ability to pay, which in some cases has resulted in reconstructions.
To manage the financial situation, Kavat has reduced its inventory and thereby strengthened its liquidity. The company states in the report that these measures had a positive effect on margins and sales during the beginning of 2025.