Swedish photobook company Once Upon reaches new milestones

Privately held Swedish photo book company Once Upon announced a series of financial performance and significant global growth accomplishments in 2023. Once Upon obtained B Corp certification in 2023, joining the ranks of more than 100 other companies in the Nordics and contributing to the global community of 8000 B Corps. This certification underscores Once Upon’s pursuit of ethical business practices and social responsibility, further enhancing its reputation as a forward-thinking and socially conscious organization.

“We are excited to announce our positive financials and strong growth during 2023,” said Lina Andersson, CEO and founder of Once Upon. “These results are a testament to the dedication of our team, as well as the support of our valued customers. As a certified B Corporation, we remain committed to delivering innovative solutions and exceptional experiences to our customers while making a positive impact on society and the environment.”

Key Highlights:

• Financial Success:
  • Despite external challenges, Once Upon achieved a 55.6% increase in turnover, from 152.3 MSEK to 237.0 MSEK, marking a significant net profit of 9.9 MSEK for the first time.
• Global Expansion and Market Growth:
  • Australia witnessed a 89% growth in the past year, establishing it as Once Upon’s fourth-largest market.
  • Strong growth rates were observed in the three largest markets: Germany, the Netherlands, and Sweden.
  • Investments in the North American market were stepped up during the financial year, with plans for a strategic launch in Canada in the coming months.
• Product Innovation and Customer Engagement:
  • Once Upon successfully launched a new product – customizable photo prints, receiving around 4,000 orders by the end of the year.
  • New payment solutions and design functions, such as the popular AutoFill feature allowing users to add up to 594 images simultaneously, contributed to increased customer engagement and larger orders.
• Strategic Initiatives and Resilience:
  • Once Upon’s success in 2023 is also attributed to strategic initiatives, effective partnerships, and a solution-oriented approach to overcoming challenges related to shipping and material cost increases.

Positive Work Environment and Sustainability Commitment:

Once Upon remains steadfast in its commitment to sustainability and social responsibility, with a holistic approach ingrained in all aspects of its operations.

• Sustainability Focus and Holistic Approach:
  • Once Upon actively explores opportunities for climate compensation and has set an internal price for the CO2 emissions across the value chain of 1000 SEK / ton CO2.
  • Sustainability is not just a checkbox but a fundamental part of everything the company does, with a vision for a future that prioritizes the well-being of the team, valued customers, and the planet.
  • In 2023, Once Upon became B Corp certified, one of 100+ other companies in the Nordics and one of 8000 B Corps around the world such as Patagonia, Ben & Jerry’s, Icebug, and Ganni.
• Psychological Safety and Employee Wellbeing:
  • Once Upon not only met but exceeded its goal in maintaining and improving its results in psychological safety measurement, highlighting the company’s dedication to a positive work environment.
  • The company strives to implement initiatives that contribute to the overall health and satisfaction of its workforce, aligning with its commitment to being a socially responsible and employee-centric organization.

Expansion Plans, Workforce Expansion and Sustainability Goals for 2024:

• Offer Development and Carbon Emission Reduction:
  • Continued development of the product offering.
  • Focus on reducing carbon dioxide emissions along the value chain in 2024 based on the Net Zero strategy.
• Global Market Focus and Expansion:
  • Strategic focus on key markets, including Germany, Australia, the Netherlands, Sweden, the UK, and the US.
  • Launch in Canada and ongoing service development.
• Sustainability and B Corp Certification:
  • Once Upon aims to intensify sustainability efforts in 2024 by working closely with suppliers, and increasing training efforts while also investing in staff well-being.
• Workforce Expansion:
  • Once Upon, currently with 65 employees, plans to recruit individuals in 2024 in all areas.