May 2026
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Largest Clothing & Accessories Public Companies in Sweden
Benchmark revenue and EBITDA valuation multiples for public comps like
H&M, Synsam, Boozt, RevolutionRace and Bjorn Borg.
 | Hennes & Mauritz is a global multibrand fashion conglomerate that was founded in 1947. Its flagship H&M brand accounts for most of the revenue, but the newer brands (COS, &Other Stories, Monki, Weekday, and Arket) are growing a bit faster. H&M commands low-single-digit market share in a fragmented global apparel market. Around 66% of revenue is generated in Europe and Africa, 12% in Asia and Oceania, and 22% in North and South America. The company operates around 4,200 stores globally, of which the bulk are H&M brand stores. | $18 | +24% | $28B | $34B | 1.3x | 7.8x | ||
| Synsam AB is a lifestyle company in optics and eye health in the Nordic region. The company offers various products and services in physical and digital stores such as eye examinations, spectacles, sunglasses, sports spectacles, contact lenses, and accessories in optical retail as well as spectacles subscriptions and related services under the name Synsam Lifestyle. Its stores are operated under the Synsam brand in Sweden, Norway, and Finland and under the Profil Optik brand in Denmark and Iceland. The company comprises four segments: Sweden which generates key revenue, Denmark, Norway, and Finland. | $6 | +4% | $856M | $1B | 1.5x | 6.3x | ||
| Boozt AB is a Nordic technology company selling fashion, apparel, and beauty online. The company operates in two segments: Boozt.com, and Booztlet.com. The Boozt.com segment consists of the operational activities related to the multi-brand webstore Boozt.com. The webstore Boozt.com is the online destination for Fashion, Kids, Sports, Beauty, and Home, tailored to deliver convenience and a curated selection of brands. The Booztlet.com segment consists of the operational activities related to Booztlet.com. The Booztlet.com segment mainly operates as the group's channel for inventory clearance, retailing items that did not sell within an allotted time frame in the webstores. The majority of its revenue is derived from Boozt.com. Geographically, the majority is derived from the Nordics. | $14 | +61% | $817M | $869M | 0.9x | 9.9x | ||
| RVRC Holding AB offers customers high-quality outdoor apparel and apparel for an active lifestyle through its online store. The company offers multifunctional apparel under its brand RevolutionRace focusing on customers predominantly within the 18-70 age category. It conducts its operations within the scope of a digital D2C business model, entailing that sales take place exclusively online with products offered directly to customers. | $6 | +35% | $671M | $633M | 3.0x | 15.9x | ||
| Bjorn Borg AB is engaged in the apparel industry. It owns the Bjorn Borg brand, through which it offers fashion underwear, sportswear, fragrances, footwear, bags, luggage, eyewear, and home products. The company operates in the segments of Wholesale, Own stores, Distributors, Licensing, and e-commerce. A majority of the revenue is derived from the Wholesale segment which consists of revenue and expenses associated with the company's wholesale operations. The Group has wholesale operations in Sweden, Finland, the Netherlands, Belgium, Germany, and England for apparel and underwear as well as in Sweden, Finland, and the Baltic countries for footwear. Geographically, it derives a majority of revenue from Sweden. | $7 | +11% | $179M | $194M | 1.7x | 11.7x | ||
| Nelly Group AB is active in the retail industry. The company offers a wide range of fashion and accessories to mainly young women in the Nordic region. At the core is the own brand Nelly, which is marketed and sold in combination with a well-composed portfolio of external brands. Nelly sells directly to its target group via digital channels, mainly Nelly.com. Geographically, the company generates a majority of its revenue from Sweden, and the rest from Other Nordic regions, and the Rest of the world. | $4 | -16% | $116M | $122M | 0.9x | 4.9x | ||
| Online Brands Nordic AB is an e-commerce company. The group operates the online store Trendcarpet, which is engaged in retailing of carpets. The company operates in more than 10 different countries and is primarily aimed at the private market. The group also houses international e-commerce for hats under the Hatshop brand and the jewelery store John Victorin in Varberg AB. | $1 | -6% | $33M | $37M | 0.7x | 15.9x | ||
| Median | $6 | +11% | $671M | $633M | 1.3x | 9.9x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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