2021 was a profitable year for an e-commerce store. But the company does not expect continued strong growth in the future.
Online store Get Inspired, which sells apparel, footwear and accessories for sports and leisure, can look back on a strong 2021.
The Trondheim-based company finished with an annual profit of NOK 52.7 million in 2021, an increase of NOK 33.2 million in the previous year.
Revenue was over NOK 530 million, up from NOK 399 million in 2020.
The CEO, Sindre Landevåg, says that in 2021 they were ahead and invested large sums in stocks. This means that they have enough goods to meet the demand, which is something they have struggled for in 2020.
– This was a significant factor in revenue growth, Landevåg writes in an email to E24.
Operating profit was 68 million NOK. This is a significant increase from NOK 43 million the previous year.
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Silje Landevåg became a millionaire based on her entrepreneurial idea
strong growth
Get Inspired was founded by Silje Landevåg in 2009. Two years later, the online store started.
His brother Sindre Landevåg has held the position of Managing Director since 2011.
Get Inspired is today one of Norway’s largest online stores for women’s sports and leisure wear. The company has experienced strong growth in recent years in the wake of increased online shopping.
The company had 74 employees in 2021.
During the pandemic, revenue increased from NOK 272 million in 2019 to NOK 399 million in 2020.
increased competition
In 2022, Get Inspired noticed that consumers’ shopping habits and focus had changed, and that there was now more competition for the attention and purchasing power of customers, according to Landevåg.
We now expect sales to normalize. While we don’t expect growth to continue at the same strong pace we’ve seen over the past two years, we’re very optimistic about the future – both for Get Inspired and online shopping in general, Landevåg says in an email.
Therefore, the company continues to strengthen the organization with new positions, especially in terms of marketing and management.
Through this, we facilitate Get Inspired to continue to generate profitable and engaging growth in the years to come.
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My adult point: Silje Landevåg
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”
