With a growth of 30 percent in one year and satisfied customers throughout the Nordic region, the ambitions have grown in the Egmont-owned e-commerce company Med24
The story about Med24 is a classic and successful story about entrepreneurship. The company was founded in 2005 – and today Med24 is the biggest online retailer of health foods in Denmark. In 2018, Med24 had a revenue of DKK 138m – a revenue that has grown 30 percent during the last 12 months:
“Our ambition is now a turnover of DKK 500m in 2022,” CEO and co-founder Nils Træholt says.
The history of Med24 begins in a garage in Northern Jutland in 2005. Nils Træholt and Kristian Brinckmann, who have been friends since school days, decide to go all in – they resigned from their jobs and moved with their families back to their native town – Løkken.
They started selling pregnancy tests and ovulation tests:
“At the same time, a liberalization of the pharmacy market in Denmark took place so we definitely saw options,” Nils Træholt says.
500,000 shipments per year
The company keeps expanding for a larger product range in health and healthy food. Five years ago, Med24 started the exports to Norway and today the company are delivering in all of the three Scandinavian counties with an assortment of 18,000 products and 500,000 annual shipments.
The best range, the best price and the best delivery is crucial – that goes for all e-commerce companies, Nils Træholt says:
“We are of course proud of our company’s success. We are on our toes and work seven days a week, and we know that the customers would like their packages almost before they have placed the order,” he says and adds:
“The bigger the business, the more complicated. It requires both storage space and know-how. And capital as well. Therefore, is has been crucial for our expansion, that we have got Egmont along as investor and sounding board.”