Join Dean DeBiase and Carl-Martin Lindahl, CEO at SVP Worldwide as they discuss how millennials are driving the company’s growth, what the latest technological advancements are in sewing and what new opportunities lie ahead for the company in terms of innovation and partnership.
I recently spoke with Carl Martin Lindahl, CEO of SVP Worldwide, on an episode of The Reboot Chronicles about how millennials are driving the company’s growth, what the latest technological advancements are in sewing and what new opportunities lie ahead for the company in terms of innovation and partnership.
SVP Worldwide is the world’s largest consumer sewing machine company and home of the legendary SINGER®, HUSQVARNA VIKING® and PFAFF® sewing machine brands. Through their innovation and pioneering of offerings in the Internet-of-Things (IoT) segment, SVP Worldwide has helped make sewing today not only bigger and better, but also higher-tech than ever before.
Millennials are Making Sewing Trendier Than Ever
According to the global industry analysts report, the sewing market is growing at a steady rate and surprisingly much of this growth is coming from millennials. “During the coronavirus lock-down, we have seen an explosion in growth - people have gotten into sewing to an extent that we had not anticipated at all,” says Lindahl.
The 2020 shortage of everything from boats to bicycles has extended into sewing machines according to CNN. He says millennials are accounting for about 65% of the total growth of the industry on a global basis. According to Lindahl, there are multiple trends driving this growth among the demographic:
Upcycling. Lindahl believes that sewing can reach the level of art, or be a form of recessionary self-expression for consumers, especially Comic Con attendees, who are willing to spend $500 dollars on a costume. Lindahl believes that the upcycling trend is primarily responsible for attracting customers, particularly those who are very conscious about sustainability, the environment and reuse.
Home Entertainment. Children who have been locked down during the pandemic are also now finding a way to learn how to sew with parents teaching their kids how to sew.
Urgent Care. Lindahl says sewing market growth was also driven by the increased demand for facemasks, respirator covers and the desire of consumers to donate to local healthcare systems.
He states in support of this SVP has donated thousands of machines to help consumers and local non-profit organizations. “We are donating sewing machines directly to hospitals and organizations to help sew face masks, gowns, respirator covers, and other PPE. We are in a unique position to help during this challenging time," says Lindahl
“During the coronavirus lock down, we have seen an explosion in growth - people have gotten into sewing to an extent that we had not anticipated at all,”
Surge in Innovative Sewing Machines
SVP Worldwide is beginning to implement many changes throughout its corporate family to maintain its ability to deliver outstanding value and quality to its customers, dedicated partners and loyal sewers. Among the initiatives currently underway, SVP Worldwide has announced new research and development offices in the Huskvarna/Jönköping area of Sweden. The new space will be 3500 square meters.
“We are investing more than $110m in product development globally over the next five years and want to have a modern facility with the space to continue growing in this region.” he says. With the latest technological advancements that make sewing easier than ever, the craft now appeals to a more diverse demographic. SVP Worldwide is also offering cloud-based services, such as apps designed to support customers with your sewing creativity, which allow machines to send real-time notifications and design transfers from anywhere.
Stepping up the Game in Partnership and Innovation
As the industry leader, SVP Worldwide has created new opportunities to get closer to their customers through a large degree of partnerships, new product innovation and technology. During the COVID crisis, the company has shifted from physical to virtual events and offered recorded classes – from a short 30-minute class to full day events –that are available on YouTube and other channels. The programs have helped the company reach a larger consumer base.
SVP Worldwide represents about 35% of all sewing machines sold globally. But to build upon the demand for sewing, the company is also looking at partnerships. This includes influencers, cosplayers, designers, fashion schools and TV shows, and partnering with companies like Disney and Amazon.
“Partnership is the biggest opportunity to create more interest, knowledge, education and demand for SVP’s sewing machines. Therefore, we have been stepping up the game and investing substantially,” says Lindahl.
Watch it here or tune in wherever you listen to podcasts.
About The Reboot Chronicles Podcast: Hosted by Dean DeBiase, The Reboot Chronicles is a popular no-holds-barred podcast on iHeart Radio, iTunes, Spotify, Google Podcasts and YouTube that has been bringing together CEOs, entrepreneurs, authors, and global leaders, for over a decade, to discuss how organizations are rebooting their leadership-competitiveness of everything from growth, innovation, and technology to talent, culture, and governance. Tune in wherever you listen to podcasts or at https://www.revieve.com/rebootchronicles
Named a “Growth Guru” by Inc. Magazine, Dean DeBiase is a Faculty Member at Kellogg School of Management and Silicon Valley serial CEO, where he has served in chief executive and chairman roles of more than a dozen emerging growth companies, CEO of Fortune 500 subsidiaries, and a director on public, private, family-enterprise, CVC, PE and VC boards. He is a Technology Fellow at Northwestern University, a Board Leadership Fellow at The National Association of Corporate Directors, and an Advisor to the National Science Foundation. A Forbes Contributor and co-author of the best-selling book The Big Moo, Dean is working on his next book, Dancing with Startups. Connect with Dean here: www.linkedin.com/in/FollowDean