Another strong third quarter for Zound
In the third quarter, Zound’s net sales rose one percent compared to the same record-breaking period in 2020. Despite continuing supply chain issues, total revenues for the quarter were 562.3 MSEK compared to 557.7 MSEK for the third quarter last year.
Zound’s ambition is to become the number one challenger and most exciting alternative to the traditional industry players by bringing life to sound through a sharp focus on product innovation, digital execution and a strong commitment to sustainability, diversity, and inclusion.
“After a tough 2020, we’re getting back to our growth momentum. The dedication of the team is paying off with successful product launches and strong financial results. Consumers’ demand for our new products is validating our strategic choices and we’re confident about our product pipeline coming into 2022,” comments Jeremy de Maillard, CEO at Zound Industries.
During the third quarter Zound continued the expansion of its true wireless offering with two new products – the Motif ANC and the Minor III. These latest launches join the Mode II to complete the Marshall true wireless family and have been positively received by customers and reviewers alike.
Zound continues to be affected by the global shortages of key components and other supply chain issues such as bottle necks at commercial ports around the world. This is affecting Zound’s ability to keep up with customer demand and products regularly sell-out both online and in stores. Our industry expects these supply challenges to continue into 2022 but Zound is taking measures to try and alleviate their impact.
After the close of the quarter, adidas unveiled its new true wireless line-up - Z.N.E. 01 ANC, Z.N.E. 01 and FWD 02. The trio of headphones are built for sport and equally relevant all day long, combining excellent ergonomics, adidas iconic design and great sound.
“We’re in a strong position heading into what has traditionally been the busiest time of the year for Zound. Demand is high across all markets and our digital channels keep going from strength to strength. We’re gaining momentum and delivering on our promise to bring life to sound,” says Jeremy de Maillard.