Last year, turnover landed at 1.5 million Swedish kronor. This represents a decrease of 35 percent compared to the previous year, when turnover was 2.3 million Swedish kronor. Operating profit also decreased, ending at 83,000 Swedish kronor, compared to 128,000 Swedish kronor the year before.
The annual report shows that the company continued to operate its usual online store during the year. The decline in sales is linked to changes in the company's strategy regarding exposure and range of goods.
Primarily explained by lower investments in marketing as well as a narrower product range, the company writes in the financial statements regarding the lower revenue.
Backed by well-known investors
The company had its highest sales year in 2021. Turnover then amounted to 5.4 million Swedish kronor. Since then, revenue from e-commerce has decreased each year.
During the peak year, the company raised external capital from several well-known actors and profiles. Investors included venture capital firm Backing minds, Saeid Esmaeilzadeh, Anna Kinberg Batra, Susanne Najafi and Kristina Linde.
In total, Denjo Dogs has raised 7 million Swedish kronor in financing since the company was started in 2017.