Extract from Family-Owned Watchlist

The below story was originally featured in our Weekly Family-Owned Watchlist update - a part of M&A Insights. Selected stories, including this one, are posted to our website with a few weeks of delay.
Luhta strengthened international sales during the pandemic
September 25, 2020
244,900
Revenue (EUR 000')
3,851.0
EBITDA (EUR 000')
-0.2%
3Y Sales CAGR
Finland
Country
Apparel & Fashion
Industry
Vesa Luhtanen
Key Shareholder ("KS")
100
Age of KS (estm.)
Management
Next generation's role
COVID-19 has accelerated the transformation of the fashion trade, according to Vesa Luhtanen (100%, 59y), owner and CEO of the Lahti-based sportswear company Luhta. He highlights that especially companies that have both their own production and sales to consumers are performing well, where Luhta itself has strengthened its international sales in 2020. The company was hard affected when their Wuhan-based factory was closed at the start of the year. Luhta houses sports brands such as Luhta, Icepeak, Rukka and Torstai i.a. The Group has 1,700 FTEs and delivered revenue of EUR 245m in 2019.
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