In 2011 Filip Tysander took $24,000 out of his own pocket to start a watch brand. Now he’s 31 and his 100% self-owned company Daniel Wellington is selling watches for $180 million annually, with a profit margin of more than 50 percent.
The preppy Swedish watches with a classic Nato band can be seen everywhere on Instagram, where Daniel Wellington has managed to gather 2.2 million followers. Success was almost instant for Filip Tysander who seems to have uncovered the perfect recipe for online sales in this day and age. Sales are soaring while the profit margin is kept high.
The Swedish business magazine Veckans Affärer recently digged deeper into the strategy behind Daniel Wellington.
The Swedish business magazine Veckans Affärer recently digged deeper into the strategy behind Daniel Wellington.
Here are the four secrets to the success of the Swedish company: