What are the largest company brands in Sweden that you can think of? Most people will probably think of brands like IKEA or H&M, but what are some other large companies that are based in Sweden?
Sweden has an impressive economy, being the 23rd largest economy worldwide and 14th largest when measuring the GDP per capita. Sweden’s economy is also diversified, oriented in exporting timber, hydropower, and iron ore.
Additionally, Sweden has strong footholds in other industries such as motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home goods and appliances, among many others.
There have also been a few notable acquisitions of Swedish companies that have boosted the economy by allowing for increased investment and expansion of the companies. Most notably, Microsoft’s $2.5 billion USD purchase of Mojang, the developers of Minecraft, in 2014. Additionally, there have been many other mergers and acquisitions that have taken place in Sweden, such as this one.
In this article, we’ll explore three well-known companies that are based in Sweden. Our list is in no particular order, and will be covering the most notable Swedish brands and how large they are.
H&M
H & M Hennes & Mauritz AB, more commonly referred to as H&M, is a very popular clothing brand based out of Sweden that specializes in fast fashion. They have over 4,801 stores, and have firmly established themselves as a global fashion leader. Known for their trendy and affordable clothing lines, H&M has garnered a loyal following of fashion-conscious shoppers across the world.
As of October 2023, H&M is the 8th largest company throughout Sweden, and has a market cap in USD of $23.02 billion.
IKEA
Arguably the most popular furniture brand in the world, IKEA is a no-brainer to include on this list as the store puts such an emphasis on Swedish culture compared to the other brands on this list.
As of 2022, IKEA was worth about $23 billion USD. Additionally, according to Statista’s IKEA Overview, IKEA was the eighth most valuable retail brand in the world, and the number one most valued furniture retail brand. Today, Ikea has almost 500 stores globally with hundreds of millions of customers visiting their stores each year.
Spotify
Spotify has had an impressively tight grasp on the music streaming market with a market share of around 33%. The company was able to secure enough funding and get enough royalty deals to get an initial foothold in the market, and they were able to keep their momentum going while other popular music streaming brands at the time failed – such as Pandora with just around 1% of the market share today.
There may be just one other brand that can compete with Spotify at the moment – and that is Apple Music. According to businessofapps.com’s article on Apple Music’s revenue, the popular music streaming platform took in $8.3 billion in revenue in 2022 and had 88 million subscribers as of June 2022.
As for Spotify, they reported $12.4 billion in revenue in 2022 and have 551 million users, 220 of which are subscribers.
Wrapping It Up
We hope you found this article interesting, and that you now know a bit more about some of the more well known and recognizable Swedish brands.
