Wikipedia

Draft:RevolutionRace

RevolutionRace AB
Company typeCorporation
IndustryRetail
Founded2014
FoundersPernilla Nyrensten
Niclas Nyrensten
HeadquartersBorås, Sweden
Area served
Worldwide
ProductsOutdoor clothing and equipment
Number of employees
~135 (2024)
Websiterevolutionrace.com

RevolutionRace AB (also known as RVRC) is a Swedish e-commerce company that designs and sells outdoor clothing directly to consumers. Founded in 2014 in Borås by Pernilla Nyrensten and Niclas Nyrensten, the company sells in over 40 countries and is listed on Nasdaq Stockholm Mid Cap under the ticker symbol RVRC.

History

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Foundation and early years (2014–2017)

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RevolutionRace was founded in 2014, originally under the name Fritidsfabriken AB, by Pernilla Nyrensten and Niclas Nyrensten in Borås, Sweden. The company set out to offer functional outdoor clothing in colorful designs at lower price points than established brands, positioning itself against the outdoor industry's traditionally conservative aesthetics and premium pricing.[1][2]

In its early years, the business was run from the founders' home, with product photography done in their living room and a garage serving as a warehouse.[3]

Private equity investment (2017)

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In October 2017, Swedish private equity firm Altor Equity Partners acquired a majority stake in RevolutionRace. At the time, the company had reached a turnover of SEK 120 million and had expanded into the Nordic countries and parts of Europe.[2] Altor had previously invested in outdoor brands including Helly Hansen and Rossignol.[4]

Initial public offering (2021)

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On 16 June 2021, RevolutionRace listed on Nasdaq Stockholm Mid Cap at an offering price of SEK 75 per share, giving the company a market capitalization of SEK 8.47 billion.[5] The IPO consisted of existing shares sold by Altor and the founding family's holding company, Nyrensten Global Holding AB. Institutional investors including BlackRock, Capital World Investors, Handelsbanken Fonder, and Swedbank Robur Fonder participated in the offering.[6]

At the time of listing, net sales had grown from SEK 284.5 million in the financial year ending June 2019 to SEK 731.9 million in the twelve months ending March 2021, a compound annual growth rate of 71.6%.[7] Pernilla Nyrensten was reported to be the first female founder to take a company public as CEO in the Stockholm Stock Exchange's 160-year history.[8]

Leadership changes (2022)

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In August 2022, Pernilla Nyrensten stepped down as CEO, remaining on the board of directors.[9] Paul Fischbein, who had served as chairman since January 2021, took over as acting CEO before being appointed permanently in October 2022.[10]

Operations

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Business model

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RevolutionRace operates through a direct-to-consumer (D2C) e-commerce model, selling through its own online channels without third-party retailers or wholesalers.[11] As of 2025, the company runs 18 webshops serving customers in approximately 40 countries.[12]

The company has begun expanding into physical retail. An outlet store opened in Barkarby, Stockholm in April 2025,[13] and a brand store opened on Kungsgatan 5 in central Stockholm in autumn 2025.[14] A further store in Haparanda, in northern Sweden, is planned to open in spring 2026.[15][16]

Products

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RevolutionRace designs and sells outdoor clothing and accessories, including hiking pants, ski and training clothing, shell jackets, fleece garments, and thermal underwear. The company's Nordwand pants, one of its original products, are its most recognised item and are available in a wide range of colorways.[17]

Markets

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The DACH region (Germany, Austria, and Switzerland) is RevolutionRace's largest market, accounting for 55% of total sales in Q1 2025/26.[18] The Nordic countries represent 27% of sales, with the remainder coming from other markets.[18] Non-Nordic markets have accounted for more than 75% of total revenues since 2023.[19] Germany is the single largest individual market; a dedicated Swiss webshop offering content in German and French launched in 2021.[20]

Financial performance

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In Q1 of the 2025/26 financial year, RevolutionRace reported net sales of SEK 392 million, a 15% increase in local currencies year-on-year, bringing rolling 12-month sales to SEK 2 billion.[21] The EBIT margin improved to 19.0%, up from 16.3% the previous year.[21] As of October 2025, the company held SEK 181 million in cash and a net cash position of SEK 163 million, with a SEK 600 million credit facility remaining undrawn.[21]

References

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  1. ^ Crunchbase 2024.
  2. ^ a b Clearwater 2017.
  3. ^ Ehandel.se 2021.
  4. ^ Altor 2017.
  5. ^ Mannheimer Swartling 2021.
  6. ^ IPO.se 2021.
  7. ^ Nasdaq 2021.
  8. ^ Dagens PS 2021.
  9. ^ Nasdaq 2022a.
  10. ^ Nasdaq 2022b.
  11. ^ Bloomberg 2024.
  12. ^ RevolutionRace Career 2025.
  13. ^ Stockholm Quality Outlet 2025.
  14. ^ Fastighetsvärlden 2025.
  15. ^ NSD 2025.
  16. ^ Market.se 2025.
  17. ^ RevolutionRace 2025.
  18. ^ a b Investing.com 2025.
  19. ^ Ada Insights 2023.
  20. ^ RVRC Holding AB 2021.
  21. ^ a b c SGB Media 2025.

Bibliography

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Category:Companies listed on Nasdaq Stockholm Category:Clothing companies of Sweden Category:Sporting goods manufacturers of Sweden Category:Online retailers of Sweden Category:Retail companies established in 2014 Category:2014 establishments in Sweden