Thule Group's Operations

Thule’s business concept and strong brand

Thule Group is a global lifestyle company that develops, manufactures, markets and sells high-quality, smart and well-designed products. In 2024, we launched more products than ever before and broke records in prestigious design awards. It was a special honor to receive the 2024 Red Dot Design Team of the Year award, which places us on par with reputable brands such as Apple, Porsche and Sony.

BRANDS CONNECTED TO LIFESTYLE CREATE LOYALTY

Brands that are used in connection with positive feelings are strengthened, which makes it easier to build consumer loyalty, sales growth and healthy profitability. Lifestyle brands that aim to be more than just a product and deliberately work to create a stronger connection to their consumers have greater possibilities of being long-term winners. The Thule brand is global and strong, and has an extensive history, with generations of users creating a relationship with the brand and our products. Through close dialog with our brand ambassadors and passionate users, we have gained deep insights into trends in the sports and outdoor sector, and we currently hold a leading position in our product areas. The brand’s DNA is based on safe, user-friendly and sustainably designed products, and is closely associated with the motto Bring your life.

RECORD SUCCESS AT RED DOT AWARDS AND IF DESIGN AWARDS

In addition to the prestigious title of 2024 Red Dot Design Team of the Year, Thule received a further 11 Red Dot Awards and 12 iF Design Awards in 2024. The awards are among the world’s most prestigious design prizes and included brand new products in new categories as well as new versions of existing popular products such as the Urban Glide stroller. Thule was recognized for its timeless design, seamless functionality and style. The fact that the entire design team was honored in this way is a testament to the collaborative spirit, creativity, and passion for pushing boundaries that exist within Thule.

ENGAGING MARKETING AND CLOSE DIALOG

The basis for product design and development is having solid knowledge and experience of how consumers use and experience our products. Our collaboration with the best retailers in each product category and market, combined with visually inspiring and engaging marketing materials provided by Thule, fuels growth. Marketing and sales take place in brick-andmortar stores as well as in digital channels, both through our retailers and directly to consumers. In 2024, we expanded direct-to-consumer sales via our Thule.com website, creating opportunities for us to penetrate new markets and complement our sales through retailers.