Strategy

Big in pockets, united by the Thule brand

Our strategy aims to grow Thule into a bigger, more profitable company. It is evident that we create the greatest value where we hold market-leading positions. 90 percent of our value creation since 2014, when we went public, has come from a handful of leading positions. We have established these positions in attractive niches – or “pockets” – that align with our premium brand. That said, a niche is attractive to us only if it meets certain criteria: It must align with our brand and contribute to an active outdoor life through products that enthusiasts genuinely appreciate. It must be a market with clear growth potential and customers prepared to pay for premium, best-in-class products. There should also be built-in complexity – for example safety regulations, intellectual property protection or advanced manufacturing. When these criteria are met, we can fully leverage our innovation capabilities and develop high-quality products that customers are willing to pay a premium for.

We refer to the product categories that have generated the majority of our value as “Champions.” We currently have six such categories: roof racks, roof boxes, bike carriers, bike trailers, awnings and performance phone mounts.

Continuous investment in product development and innovation is one of the underlying success factors for developing and maintaining market-leading positions. In its turn, a high rate of investment requires high profitability and, accordingly, a focus on cost control and continuous efficiency improvements.

Based on this strategy, we have developed a clear plan to achieve our financial goals. Our strategic priorities are:

• building bigger and more Champions to drive long-term growth;
• implementing efficiency measures to enhance profitability and enable future investments.

Read more about our strategy and the plan to reach our financial targets in our Annual report