28 April 2023

The strategy pays off for the Danish retailer, Flying Tiger Copenhagen, delivering strong financial results again this year.

In the newly released annual result for 2022, revenue has grown to more than DKK 4.75 billion an increase of more than 25% compared to the previous year. A result close to pre-pandemic numbers achieved with fewer stores. This is a result of the significantly improved underlying business operation, which has been strengthened over the past years, and it means that Flying Tiger Copenhagen exits 2022 with an EBITDA of more than DKK 1bn. and positive net profit.

“With very strong revenue and an EBITDA of more than a billion DKK, we have again in 2022 demonstrated that Flying Tiger Copenhagen runs smoothly and has a very large potential. Our concept and strategy work, our operation is strengthened, and we experience high demand for our products and unique concept in all parts of the world”, says Martin Jermiin, CEO of Flying Tiger Copenhagen.

The 2022 numbers show that Flying Tiger Copenhagen is back at the same operational level as before the pandemic and with even stronger store operation. Therefore, Flying Tiger Copenhagen has a strong foundation for continued growth in both existing and new markets.

During 2022, Flying Tiger Copenhagen opened three new markets in the Middle East with a total of 21 franchise stores.

In the first months of 2023, the company signed additional franchise agreements, which will lead to an expansion in Asia. As part of Flying Tiger Copenhagen’s controlled expansion, the company expects to double its store count over the next five years, adding 1,000 franchise stores to the portfolio.

”Our financial results demonstrate that we have a robust and strong business with a very solid foundation to continue our growth. We experience very high demand for our brand, and we still see a large potential in the physical store experience. Therefore, we will execute a controlled, expansion in 2023 – both with our strong franchise partners in the new growth markets, as well as in the existing European markets. We are ambitious and optimistic for the future”, says Martin Jermiin.

About Flying Tiger Copenhagen

- A unique store concept that sells everything from eco-conscious everyday products to unusual must-haves which inspire and bring people closer together

- Established in 1988 by Lennart Lajboschitz, today Martin Jermiin is the CEO

- Around 7,000 employees globally

- 842 stores in 27 countries in Europe and Asia at the end of 2022

For further information, please write to:

E-mail: press@flyingtiger.com