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Strong growth for niche e-commerce

The pandemic brought a major boost for Pen Store. For Jacob Bergström, the company's CEO and a participant in Norion Bank's Corporate Accelerator training program, the idea now is long-term growth. 

Jacob Bergström was 22 when he founded the e-commerce company Pen Store. Now, 13 years later, the company is one of Scandinavia's leading players in pens and art supplies, with local websites throughout Europe. While e-commerce accounts for the majority of the business, the company also has a brick-and-mortar shop in Stockholm.  

“Obviously, Pen Store is very different now than it was at the beginning. It’s been incredibly exciting to develop the company, and I look forward to taking new steps. Corporate Accelerator was attractive because of its interesting themes and holistic take on building a company,” says Jacob Bergström, CEO of Pen Store.   

Like many other e-retailers, Pen Store experienced a major boost during the pandemic. The subsequent challenge was to budget and try to understand the new normal after that extreme growth.  

“We were worried we would stagnate, but we managed to maintain the plateau and even grow after that. Even though we have new challenges today for macro reasons, we have growth and improved profitability in the company. For us, right now the idea is very much about changing how we think about things and how we act,” says Jacob Bergström.  

Norion Bank’s Corporate Accelerator program is intended for medium-sized companies undergoing a growth journey. The purpose is to use expertise and new networks to help participating companies reach the next level.  

“It’s been very rewarding to meet other participants with the same drive and ambitions. It isn’t just about growth ambitions, but the desire to build a stable and long-term company. We’ve gained knowledge and inspiration that we can continue to work with,” says Jacob Bergström.  

According to Erik Krondahl, General Manager, Corporate, at Norion Bank, a long-term approach is important for companies that want to develop their business.  

“The idea is to create a stable foundation that can be built upon, but also to see the company from a holistic perspective. In our partnerships with medium-sized companies, we highlight all aspects of the business, in order to best support the companies on their journey,” says Erik Krondahl, General Manager, Corporate, at Norion Bank.  

About Pen Store  

Pen Store is one of Scandinavia's leading providers of pens and art supplies. The company has a brick-and-mortar store in Stockholm and sales throughout the EU, with local websites in Sweden, Denmark, Norway, Finland, Germany, France, the Netherlands and Ireland.