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Mrkt BUZZ Zinzino: Sales well above our expectations

3 Nov 2022

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Mrkt BUZZ Zinzino, 3 Nov 2022

Analysis Zinzino

Today (Thursday, 3 November 2022), preliminary sales figures for the first month of the fourth quarter, October, were released. At a group level, revenues of SEK 130.2 million were reported, representing a growth of 22.0 per cent. That was 10.4 per cent above our estimate of SEK 117.9 million.

During an international event on 8-9 October, new products from the acquired skincare brand HANZZ+HEIDII were launched to existing distributors (or partners). An expanded product range for existing partners may thus have been a contributing factor to the strong growth. An expanded product range also adds conditions for continued growth, which supports the case.

The important Central European market continues to develop strongly. Not least, the high year-on-year growth of 50.8% stands out. At the same time, given the size of this focus market, there is still much to be done.

We intend to provide a research update after the company’s Q3 report (17 November), when we will gain further insight into other important factors such as profitability, etcetera.

Read our latest research update here.


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Mrkt BUZZ Zinzino: Sales well above our expectations