SharkNinja’s Road to a Ten-Billion-Dollar Appliance Company

SharkNinja’s special article outlines his path to tens of billions of dollars.

https://mp.weixin.qq.com/s/U0cJxWjSeeaMi95_C1BEEg

In the small home appliance industry, if you don’t know

Sharkninja

, that most likely means you haven’t entered the industry yet.

As a company that I personally admire and like the most, what I admire very much is that Shark can continue to break through itself.

I personally first came into contact with SharkNinja around 2012. At that time, their company name was still called Europro. Later, because the brand developed so well, the company name was changed to be the same as the brand.

Then in 2018, the entire brand was acquired by Joyoung for 10 billion. This was the first thing I reported that year, which made me popular in the industry overnight. I made a video before, if you are interested, you can watch it.

SN will be listed on Nasdaq in the United States in 2022. The sales data in 2022 will be 3.7 billion US dollars. By 24 years, this number will become 5.5 billion US dollars. This growth data is simply exaggerated.

Next, let’s take a look at Shark’s growth points and why they can achieve them.

First, let’s take a brief look at some of Shark’s situation. In 2024, SN achieved sales of US$5.5 billion, including US$2.6 billion for Shark and US$2.9 billion for Ninja. Judging from the comparison of data in 2022, Shark's sales at that time were US$2 billion and Ninja's were US$1.7 billion. The main growth point in recent years has been in Ninja, which increased by US$1.2 billion.

In terms of market, we vigorously promote internationalization, and the international market contributed US$1.7 billion in sales. In the UK and Japan, Shark has a very high market share.

Their global supply chain is also very strong, and they started a global supply chain layout at the beginning of the trade war. Currently, there are production and manufacturing bases in various countries such as Southeast Asia. SN's supply chain team is the strongest I have ever seen personally. Once the team sets a goal, it basically achieves it at all costs. When a company normally develops new products, it usually requires a relatively large investment to produce 3-5 units. Previously, some friends said that they would make 100 prototypes of Shark's new vacuum cleaner product and send them to the United States for consumers to use and collect feedback. The cost here is extremely exaggerated.

SN's growth in the cleaning category is not very large, but there are several opportunities that Shark has not yet seized and released. One is the hard floor washer. Currently, the amount of Shark is still very small. The other is the base station robot vacuum, which also needs to be improved.

I think another big growth point is Shark's corded upright vacuum cleaners. Once these vacuum cleaners are converted to lithium batteries, they will bring about huge growth. So how Shark leads the industry in this aspect in the future is also what we, the cleaning appliance practitioners, are paying attention to.

Ninja categories have increased a lot, mainly because it has entered the following categories:

Coffee machines, outdoor appliances, personal care appliances,

Such as hair dryers, facial masks, etc. For example, hair dryers sold millions of units in the first year they were launched, which is extremely exaggerated.

If the likes are high, I will publish a video focusing on Shark’s high-growth product line.

Why can such results be achieved?

——Self-summary from Shark

1

Disruptive innovation

They have more than 1,000 engineers and designers around the world who are constantly thinking about various innovations. Teams in the United States, Britain and China communicate 24/7 and have the latest ideas quickly tested and implemented in the shortest time. There are more than 5,200 patents worldwide. To be honest, Dyson has not been very good at cleaning appliances in recent years. The only company that is still making continuous innovation is Shark. Everyone is staring at Shark’s new product.

2

Global Agile Supply Chain

At present, the global supply chain has been laid out. There are suppliers in China, Thailand, Vietnam, Thailand, Singapore, Malaysia, etc., and 2-3 suppliers of core products open molds and ship simultaneously.

A flexible supply chain can make rapid changes according to market changes. The advantage of this is that even if there are external changes, they can adjust the supply chain to the market at any time. For example, regarding tariffs, SN can switch among these six countries to ensure that the tariff levels are not higher than those of competitors.

The advantage of 2-3 suppliers synchronously opening molds is that if product orders explode, you will not miss the order burst period due to production bottlenecks. Moreover, the advantage of multiple suppliers is that they can continuously lower prices to ensure an advantageous purchase price.

3

360 degree marketing

Shark has been very strong in marketing since 2009. Early products benchmark against Dyson to ensure that they are better than these opponents in terms of parameters, and then the price is only half. This strategy was very successful and successfully tied Shark and Dyson together. It is somewhat similar to our domestic Xiaomi. Follow-up various social media marketing and so on are not a problem.

4

Integrated channel

SN summarizes their marketing and sales strategies into an integrated channel strategy.

In the past, when we went to offline shopping malls to buy things, we would only think about whether we wanted them when we saw them. If there was no demand, we might not buy them. What is different about SN is that they create demand, and then offline stores complete the closed loop of demand.

Simple example: They create various usage scenarios on TV, social media, live broadcasts and other channels, and then consumers complete sales in offline stores, offline channels, etc. It is similar to our domestic Xiaohongshu, Douyin, Taobao and JD sales, etc. It’s just that their cultivation and sales range is wider.

They also summarized 3 key points for growth:

Add to existing scene

Develop more emerging product lines

Access more countries

The above is some official information from them, and I will also share some of my personal opinions:

In the small home appliance industry, I think SN's development capabilities and supply chain are the strongest.

Over the past 10 years, we have continuously developed a variety of awesome products. Among the companies I know, SN is the company with the strongest execution ability. As long as they set a time point, they will not hesitate to follow the supplier to achieve it at all costs. And what's even more awesome now is that their ability has become the company's system and can be continuously copied to other industries. The rapid growth of the Ninja product line in the past two years is a manifestation of their system. In the future, they can enter more languages ​​and achieve greater growth. I personally feel that within 5-8 years, SN is likely to become a company with sales of tens of billions of dollars.

At present, the core of SN is still their CEO, Mark Barracos.

Mark B is a partner who has worked with Mark R for many years. After Mark R left, Mark B took over the leadership of the company on his own, which actually proved that he has the ability to take the company to a higher level. And he is still in his prime and can still work for at least 20 years.

In addition to the company's own culture, core leadership is crucial.

I think SN is also worth learning from in terms of its treatment of suppliers and employees. SN's employee benefits have always been among the highest in the industry, so even if they have to work overtime, no one will complain. On the supplier side, the profit from SN orders should be relatively high, and if SN allows suppliers to develop, they will pay for it. The order volume is large and the profit is high, and customers who do not write ink are the most popular ones everywhere.

An average company can allow customers and themselves to make money, and a great company can allow employees and suppliers to make money as well. This is true for Huawei, Apple, Dyson, etc.

There is a small episode. I wrote an article in English before, and the picture in the article was an early photo of founder Mark Rosenwig. Then his agency contacted me and told me that Mark had lost weight now and could he help me replace the photos. Of course I agreed. I'm just a very small blogger, but they were able to reach this point of Jianlian 5-6 years ago, saying that their marketing coverage was too strong.

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