ABOUT THE COMPANY: SVP Worldwide, doing business through SVP-Singer Holdings, Inc. and its affiliates, 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 and its three iconic brands - SINGER®, HUSQVARNA® VIKING®, and PFAFF® - each has delighted consumers for over 450 years. These premium brands and products are regarded as the choice for serious sewists and novice crafters.
The company’s corporate headquarters is located in Nashville, TN, and supported by regional headquarters/sales offices located in Milan (Italy), Mexico City (Mexico), and Sydney (Australia) that, combined, reach consumers in more than 180 countries. SVP has manufacturing facilities across Asia and Latin America, multiple R&D centers, a software development center in Europe, and a global supply chain with distribution centers in all regions.
SVP Worldwide 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 of sewing machine dealers, mass retailers (e.g., Costco, Walmart, Lidl, 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 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. 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.
In 2018, SVP Worldwide was acquired by Ares Capital Corporation (www.aresmgmt.com), a leading publicly traded business development company. Under Ares ownership, SVP Worldwide has made substantial investments to strengthen the company’s growth for the future. Leveraging its brands, innovative products, motivated employees, global footprint, and the financial strength of the new owner, SVP Worldwide is looking to compete more aggressively in the marketplace, accelerate growth, and attract talented team members.