June 2026
Proprietary AI analyst is now available
Largest Consumer E-commerce Public Companies in Sweden
Benchmark revenue and EBITDA valuation multiples for public comps like
Apotea, Boozt, BHG Group, Haypp Group and RugVista.
 | Apotea AB (publ) is engaged in the online pharmacy with fast deliveries, good prices and a large selection. Its vision is to be tomorrow's pharmacy by constantly facilitating and simplifying for the customer. | $8 | -14% | $838M | $858M | 1.1x | 16.6x | ||
| 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 | +62% | $814M | $865M | 0.9x | 9.8x | ||
| BHG Group AB is a consumer e-commerce company in the Nordics and is also present in the rest of Europe, as well as in selected markets outside of Europe. It provides Home improvement space, meaning Do-It-Yourself and Home furnishings. The company's operating segments are; Home Improvement which comprises brands targeted at Nordic DIY customers, such as Bygghemma, Taloon, Golvpoolen, Nordiska Fonster, Outlet1, Hafa, and Hylte Jakt & Tradgard; the Value Home segment which comprises brands with assortments for the home targeted at price-conscious European customers, such as Trademax, Chilli, Furniture 1 and Furniturebox, and the Premium Living segment which comprises brands with assortments of premium products within the Scandinavian design. | $3 | +8% | $485M | $680M | 0.6x | 7.7x | ||
| Haypp Group AB is engaged in the business of selling nicotine pouches and snus online in eight countries across Europe and in the United states. The company has two operating segments namely, Core and Growth. Core consists of the main markets, Sweden and Norway. Growth consists of the emerging markets which are USA, UK, Germany, Austria and Switzerland. | $15 | +2% | $456M | $460M | 1.1x | 18.6x | ||
| RugVista Group AB is a direct-to-consumer online platform within carpet and rug sales through its online stores. The company offers a broad and relevant range of quality, design, and traditional carpets and rugs. The company operates in three segments, namely Business-to-Consumer (B2C), Business-to-Business (B2B), and Marketplaces & others (MPO). The B2C segment represents the consumer market. The B2B segment focuses on small and medium-sized companies, mainly retail stores, hotels, and interior design studios. The MPO segments sell the company's products through other selected, relevant, and rapidly growing online stores such as Amazon. The majority of its revenue comes from the B2C segment. | $6 | -9% | $130M | $117M | 1.3x | 9.4x | ||
| 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 | -18% | $113M | $120M | 0.8x | 4.8x | ||
| Pierce Group AB is an e-commerce company. It sells motorcycle and snowmobile gear, parts, accessories, and streetwear to passionate customers through online stores such as 24MX, XLMOTO, and Sledstore. It has a local online presence in European markets. It has two larger segments, the Offroad segment, which includes sales to motocross and enduro riders; and the Onroad segment, which includes sales to high-road riders. In addition, the company has a smaller segment, Other, which focuses on snowmobile riders in the Nordics. A majority of its revenue is generated from the Offroad segment. Geographically, the company generates maximum revenue from Outside Nordics, which mainly refers to markets like Germany, France, Italy, and the United Kingdom, followed by Sweden and Other Nordic regions. | $1 | +9% | $78M | $59M | 0.3x | 5.6x | ||
| 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 | -11% | $31M | $35M | 0.7x | 15.1x | ||
| Desenio Group AB is an e-commerce company within affordable wall art in Europe, with a growing presence in North America. The company offers its customers a range of posters and hanging accessories in the form of frames, picture frames, clamps, and poster hangers in more than 35 countries, including Denmark, Australia, Belgium, Germany, France, Spain, Norway, and Italy. The operating segments identified by the Group: Nordics, Core Europe, which consists of Germany, France, the Netherlands, and Great Britain; Rest of Europe, and Rest of World. | $0 | -29% | $29M | $20M | 0.3x | (1.0x) | ||
| New Bubbleroom Sweden AB is a e-retailer in fashion. It offers luxurious, glamorous and feminine fashion for women. The company sells clothes, underwear, shoes and accessories for the conscious woman. | $1 | +82% | $12M | $12M | 0.3x | (9.0x) | ||
| Refine Group AB builds and develops brands in the world of digital commerce. It brings together niche lifestyle brands and digital growth experts to capitalize on the digital transformation taking place in commerce globally. Refine operates a portfolio of profitable and thriving lifestyle brands, offering products with compelling value propositions. Its digital commerce service providers enable brands to accelerate growth and succeed in the digital transformation within commerce. Its products brands include SQRTN Company, Folkhemmet, Browgame Cosmetics, MandySkin, C3 Scandinavian Lifestyle, Gasoltuben and iPhonebutiken. | $0 | +161% | $12M | $11M | - | - | ||
| Sweden BuyersClub AB is an online e-commerce retailer in Sweden that operates as an online shopping club, offering a wide range of goods at low prices through its website. It combines sales revenue with membership income from its optional subscription, which provides benefits like free shipping and cashback. The company uses a developed e-commerce platform that integrates inventory from external suppliers and its own warehouse to provide a smooth customer experience, delivering all items in a single shipment. | $0 | +28% | $7M | $7M | 0.6x | 60.8x | ||
| Median | $2 | +5% | $96M | $88M | 0.7x | 9.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.