The e-tailer is aiming for new sustainability goals and accelerated profitability with the help of technological innovation that will help them crack the code around changing buying habits.
Earlier in June, The Protein Company announced its expansion plans in Finland and the goal of reaching a turnover of SEK 100 million at the end of the year 2025. Now they also announce that new sustainability goals have been set together with new turnover goals of reaching half a billion in turnover within two years.
"We recently joined the organization 'Sustainable e-commerce' and are investing heavily in new sustainability goals with a focus on logistics and packaging, including reducing the number of returns and air in the packages. No 'empty' trucks should leave our warehouse. In addition to that, we are also currently focusing on sharpening the demand forecasts for our products and how we plan product development for our own brands. We have found a Swedish company that has become our own internal 'ChatGPT' for purchases on which we will build our entire business. One goal is to become a leader in the Nordics, and we want to streamline our organization without it becoming too large," says Mårten Åkeson, founder and CEO of The Protein Company.
"In order to reach our high turnover targets, we have started working with AI and Binary Brains, which feels extremely exciting and not a minute too late. We manage approx. 11,000 SKUs, have around 150 brands on the website and are investing heavily in our own brand GAAM, where we have so far over 300 unique products that we want to become one of the Nordic countries' most valued nutritional supplement brands. In addition to that we will also be launching a new brand called Fitnessjunkie, an online brand that is good for the wallet but still maintains good quality. Getting help from AI to handle all of this while making us more efficient will take our organization to the next level," says Caroline Haglind, CFO The Protein Company.
"We are very happy to collaborate with an e-commerce company like The Protein Company, which has high sustainability and profitability goals and wants to take more market shares in a way that is also sustainable for their entire organization. We share common goals of collaborating with partners and customers who have good values as a basis, moreover in such a complex and fast-paced industry as e-commerce, which is facing major challenges right now. Together we have laid the foundation for an innovative way to predict purchases on all their items at a level that only accurate AI models can provide. Investing in technological innovation in this way will definitely help them put an extra gear in the effort to lower their production and purchasing costs, and to increase their growth rate. It will be extremely exciting to follow," says Jacob Kihlbaum, founder and CEO of Binary Brains.