Annual review 2021

Our group companies


The year 2021 was strong for KICKS, with increased online sales and a robust recovery in stores. Sales grew by more than 10 percent. The companyhas continued to strengthen its position, both through increased investments in the digital customer experience and the launch of more flexible service and delivery solutions.



During 2021, the pandemic continued to affect operations to varying degrees. During the first half of the year, the business was clearly affected by the situation, including a lock-down with closed stores in Norway. In step with increased vaccination rates and eased restrictions during the fall, buying behaviors have returned more to patterns before the pandemic, with a strong recovery in stores. Online sales have also increased significantly, and for the full year, e-commerce accounted for 26 percent of total sales. Sales landed at a total of SEK 3.63 billion with a profit of SEK 70 million.



An important and long-term investment is the launch of KICKS Beauty Talks, a community for beauty enthusiasts, opening up further digital opportunities for interaction and a closer relationship with customers. Another significant channel for guiding and advising customers is streamed live shopping, which KICKS continues to invest in.



The focus going forward is to continue to develop the company’s omnichannel offering, strengthen the customer experience and take service to the next level. For a better and smoother customer journey, KICKS has rolled out self checkout, a new in-store service solution, as well as a new delivery method, click express, where you combine online shopping with express delivery with the experience of a store visit. In a handful of stores, KICKS has also launched a pilot: Treat by KICKS, a new concept with modern beauty treatments, which has received a very positive response from customers.



A new diversity and inclusion strategy has been developed to move the company from individual initiatives to a defined footprint that is measurable and long-term. The strategy addresses recruitment and promotion, as well as values, community involvement, business development and marketing communication.

KICKS has also developed new climate goals to reduce emissions from transport and manufacture of the products the company sells, but also to guide and inspire employees and customers to make sustainable and emission-reducing choices.

Skincity – an onlineskincare clinic

Since Axel Johnson originally invested in the company in 2017, Skincity’s sales have doubled from SEK 277 million in sales at the time. What was in 2017 a distinctly Swedish business now has sales outside Sweden accounting for over 30 percent of sales. From not having any own brands three years ago, today unique Skincity products account for an increasing share of sales.

IN 2021 Axel Johnson became a full owner of Skincity by acquiring founders Mikael Kjellman and Annica Forsgren Kjellman’s share of 18 percent.

AFTER A STRONG 2020, where the pandemic drove e-commerce growth, Skincity had a tougher 2021, when customers during the fall increasingly found their way back to physical stores. Going forward, Skincity aims to continue its shift from start-up to a strong and differentiated beauty player in its niche, in a significant number of markets.

The facts

KICKS is the leading beauty chain in the Nordic region and offers an omni-channel concept with products and services in makeup, fragrance, skincare and hair care.

Ownership: 100%

Number of employees: 1,367


KEY RATIOS, MSEK 2021 2020
Net sales 3,633 3,314
ProfitAX 70 37
Profit/loss after net financial items 70 23