Swedish company Hövding, maker of an airbag collar for cyclists, reported that the number of units sold in 2020 increased by 35 percent and sales also increased by 35 percent compared to 2019. In the company’s year-end report, Hövding’s CEO Fredrik Carling stated that in Sweden, Denmark and Germany alone, a Hövding was purchased somewhere every four minutes, meaning there are now 300,000 airbag collars on the roads in those three countries. Net sales in the fourth quarter totaled SEK 52.7 million (€5.2m-$6.3m), making it the company’s best quarter yet, with the German and Danish markets rebounding strongly after Hövding undertook some corporate restructuring in the third quarter. One clear trend is that up to half of all Hövding collars are now purchased online, and the product is of interest all year round, not just during the obvious cycling season.
“2021 will be an interesting year. The market is difficult to predict given the prevailing circumstances, but continued growth is obviously the goal,” Carling said.
Hövding’s airbag collar for cyclists is available in 16 markets in Europe and in Japan. The company is headquartered in Malmö, Sweden, and was listed on the Nasdaq First North Growth Market on June 16, 2015.
