LAKRIDS BY BÜLOW celebrates double-digit sales growth in 2024

Danish confectionery brand LAKRIDS BY BÜLOW successfully delivered an overall growth of 18 percent in 2024, with revenue surpassing €50 million for the first time, and the UK emerging as a key market.

Building on the fast track success and cult appeal of its liquorice across the world, LAKRIDS BY BÜLOW is officially booming in the UK market, boasting an extraordinary 90 percent growth with strong momentum across physical and digital channels. The UK growth has been driven by several factors, including new store openings, increased retail partnerships across iconic British stores such as John Lewis and Harvey Nichols, and exceptional digital performance.

Fredrik Nilsson, CEO of LAKRIDS BY BÜLOW, said: “The UK is becoming a vital part of our international growth story. Our focus on expanding our presence here has paid off, and we are thrilled to see the strong response from British consumers.”

While UK growth stood out, global expansion continued, with export sales up 32 percent. The US saw 119 percent growth, Germany remained the largest market with 30 percent growth, and the company now operates 40 stores worldwide.

Growth across all channels

Sales saw strong growth, with online channels rising 15 percent and retail sales up 27 percent, demonstrating the success of LAKRIDS BY BÜLOW’s strategy to integrate physical locations to enhance their digital presence. LAKRIDS BY BÜLOW opened its first permanent stores in the UK in 2023, and continued its retail expansion in 2024 with a third store opening in Westfield London. With 40 stores and seven new openings globally across 2024, the strategy has not only boosted retail sales, but also supported the digital universe and efforts to increase the number of retailers.

Building a loyal community

A further contribution to the brand’s global success is the LAKRIDS LOVERS taste panel, a brand universe and community that involves the company’s customers in the development of new flavours, and consists of loyal brand fans spread across the company’s geographies. Last year, the panel grew from 150,000 to more than 220,000 members across 6 countries, and in the UK alone, there are almost 20,000 members of the taste panel.

Navigating challenges in 2024 and beyond

In 2024, rising cocoa prices posed challenges, however the brand expects a profit margin in line with last year, with its diversified model continuing to help drive growth across all channels. Fredrik Nilsson continues: “We enter 2025 with a clear strategy to strengthen our position in key markets while adapting to any challenges that may arise.”

LAKRIDS BY BÜLOW will publish its full 2024 annual report later this year, where further details of the results will be presented.