The anniversary year was a happy time but challenges were not avoided

The 2023 customer satisfaction survey indicated that the company’s NPS is extremely high. Gugguu’s customers are committed and satisfied and also willing to recommend the products to others. On the other hand, challenges could not be avoided in the changed global situation. There have been significant changes in the purchasing behavior of consumers, and production costs and prices have increased, for example.

Many memorable events were organized over the year and new model ranges were also launched. Still, Gugguu’s sales did not develop in the desired manner. Fortunately, the company had prepared for the uncertain outlook through a variety of measures, such as reducing production volumes, which is why the challenges and changes were not as much of a surprise.

Responsibility brings people together

The support from Panostaja is very significant for Gugguu, and responsibility, which is important to both companies, is at the core of the company’s operations. Gugguu is a responsible producer that manufactures ecological products entirely within Europe. Increasing awareness of the Gugguu Preloved shop, which was launched in late 2022 to encourage the recycling of children’s clothing, has been one of the responsibility themes in 2023.

Gugguu finds that being part of Panostaja’s portfolio is also beneficial in terms of networking and the exchange of ideas. This year, too, the various events organized by Panostaja, such as the Financial Management Days and Management Forum, have provided important discussion forums for the company’s key personnel.

The coming year will surely continue to be challenging for Gugguu. However, there are also positive prospects in the figure. As an example, the efforts to drive internationalization will pick up speed with Gugguu opening a subsidiary in Norway in 2024.

* In contrast to Panostaja, Gugguu’s financial period is April 1–March 31 

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