About SVP Worldwide
The Company:
SVP Worldwide is the world’s largest consumer sewing machine company, accounting for
approximately one out of every three sewing machines sold annually across the globe. The
company was founded in 1851, and its three iconic brands - SINGER®, HUSQVARNA
VIKING® and PFAFF® - each have delighted consumers for over 140 years. The Singer brand
is the industry’s most recognized and ranks #1 in the industry in brand awareness, likelihood to
purchase and overall quality, according to a recent Gallup survey. The Husqvarna Viking and
Pfaff brands have a premium positioning that are regarded as the brands of choice for serious
sewers and crafters.
The company’s corporate headquarters is located in Nashville, TN and is supplemented by four
regional headquarters/sales offices located in Milan (Italy), Sao Paolo (Brazil), and Sydney
(Australia) that, combined, reach consumers in more than 180 countries. SVP has four
manufacturing facilities across Asia and Latin America, two global R&D centers, a software
development center in Europe and a global supply chain with distribution centers in all regions.
SVP has a history of innovation and has established a leading offering in the Internet-of-Things
(IoT) segment by introducing mySewnet®, the industry’s first cloud-based operating system, and
the Premier+ suite of software. Its product portfolio covers entry level sewing machines all the
way up to advanced, internet-connected, leading edge household sewing machines that retail for
$15,999 and all segments in-between. In addition to sewing machines, the product portfolio
includes sewing accessories, notions, garment care products as well as software.
The products are sold across a network on sewing machine dealers, mass retailers (e.g., Costco,
Walmart, MediaMarkt, Carrefour), specialty retailers (e.g., Joann, Michaels), online retailers
(e.g., Amazon, Tmall), distributors, and through the company’s ~200 internally operated retail
stores.
The Industry:
The sewing machine industry is a global industry that is experiencing renewed growth. In
developed markets, growth rates are projected to outpace GDP growth, according to Global
Industry Analysts, Inc, the leading industry data source. Growth in these markets is driven by the
Millennial generation that is increasingly attracted to personalization, crafts and self-expression
(e.g., cosplay). In developing markets, the industry is expected to grow at 6.7% annually, fueled
by the emerging middle class and the “need to sew” segment that uses sewing machines to
support the household.
The Future:
In 2018, SVP was acquired by Ares Management (www.aresmgmt.com), a leading asset
manager with $125B+ assets under management. The new owner has made substantial
investments to strengthen the balance sheet and set the company up for growth. Leveraging its
brands, innovative products, motivated employees, global footprint, and the financial strength of
the new owner, SVP is looking compete more aggressively in the marketplace, accelerate
growth, and attract talented team members.