Sweden has a very progressive government which bodes well for Swedish companies. There are a lot of local Swedish companies that have expanded well beyond their borders and are now global presences. Time for us to start naming a few, maybe you haven’t heard of a handful of them.
Famous Swedish Companies
Why are so many Swedish Companies Successful?
For Swedes, the economy matters quite a bit. In a relatively small country, we’re dependent on our exports and our own internal financial health. Sweden is one of the few countries that’s not really dependent on one thing, like housing, or credit growth. Sweden’s industries, and our economy, are in pretty good shape right now.
To give some idea of the scale, Spotify, the world’s most valuable music streaming company, currently has a market cap of 23.30billion. At the beginning of May, Swedish companies’ local stock market capitalization ranked fifth in the world. Now 4 months on, it’s second!
It is clear that Swedish people have a strong entrepreneurial spirit. When hearing about new startups in Europe and the world, a good number are hailing from Sweden. Some examples that spring to mind are Klarna, Voi and Karma. You’ll definitely be hearing about these Swedish companies at some point as they are already expanding out of their domestic territory.
Swedish Clothing Companies
People may think that Swedish clothing is just for hipsters or for the dressing up in warm clothes during the cold winter months that Sweden gets hit with. There are, however, a vast amount of Swedish clothing companies that have gone global selling their products, from jeans to jumpers.
One of these companies that is a well-known high street brand is H&M. Just walking down the street and you would recognize this, but did you know it was Swedish. Many online retailers stock Swedish clothing, for example Cheap Monday have great jeans that can be found in-store and online. They also have a competitor called Nudie Jeans.
More Swedish clothing companies:
- Björn Borg
- Acne Studios
- Odd Molly
- Flippa K
Swedish Car Companies
Another industry where Swedish companies have got a strong foothold is the automotive industry. Here, in the States we speak about soccer mom cars, well a Volvo is the ultimate soccer mum car and guess what Volvo is a Swedish company.
Volvo isn’t the only Swedish car manufacturer though, Saab Automobile is another Swedish car company that is still around and doing well to this day. The parent company of Saab is actually in the Aerospace market and they are listed on the Stockholm Stock Exchange (STO).
More Swedish companies each year are becoming business unicorns, this means hitting a market cap of 1 billion. We believe that this will keep continuing into the future, and more foreign companies will look to Sweden as a place for offices due to the hardworking, well-rounded employees that are available in Sweden.