The e-commerce company, founded by Bianca Ingrosso and Lovisa Worge, reports revenue of 17.9 million Swedish krona for the fiscal year 2025. This represents a decrease of 16 percent from the previous year, when revenue stood at 21.3 million Swedish krona.
However, despite the decline in sales, the company's results improved. The loss amounted to minus 1.6 million Swedish krona, compared to minus 4.6 million the year before.
Aborted Launch and New Systems
When the e-commerce retailer’s first watch was launched in October last year, it quickly faced criticism regarding its design. The negative publicity led to the company choosing to halt sales completely, in the middle of the ongoing launch.
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However, aborting a product launch at that stage involves financial risk. The company states that they managed to reach an agreement with their supplier, which made it possible to reduce the direct costs of the sudden decision to withdraw the product. According to management, this meant that the canceled watch venture ultimately had a limited impact on the company’s total sales for the year.
We managed to minimize the costs associated with the project and have taken with us valuable lessons for future category launches, says CEO Camilla Tullberg Wengholm to the website.
In addition to product issues, rising prices of raw materials such as gold and silver have affected margins in e-commerce.
The company has, in the meantime, invested resources in rebuilding its digital business. A new web platform has been launched to handle future growth, and the strategy for the assortment has been adjusted. In addition, the company has expanded its sales through retailers in Sweden and Norway.
Aims for Black Figures
The start of 2026 looks set to turn the trend around for the company. Through the new e-commerce initiatives and expansion with retailers, growth is reported during the first months of the year.
The focus is now on the new platform and distribution to bear fruit during the year.
Our primary goal for 2026 is to become a profitable company. We have started the year with double-digit growth and are profitable so far this year, which gives us a good starting position, says Camilla Tullberg Wengholm.