European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank36

Sweden · Consumer Non-Cyc.

Haypp Group

Operates eleven distinct e-commerce brands across the United States and five European countries.

+53%revenue growth
FY2022–FY2025
+118%net-income growth
FY2022–FY2025
+423%stock return
FY2022–FY2025
−10%2026 stock return
current context only

Company profile

Local nicotine storefronts on one e-commerce and logistics platform

Haypp Group is an online retailer in an adult-only, regulated category. Eleven storefront brands sell nicotine pouches, snus and related products across six European countries and the United States, adapting assortment, customer journeys and compliance to each market. Behind those local names sits shared e-commerce infrastructure, consumer and category data, and a fulfilment network spanning company-operated warehouses in Sweden, Norway, the United Kingdom and the United States plus a German third-party facility.

Storefronts and markets

Eleven retail names localise one specialist category

Haypp.com serves several European markets, Nicokick is the US-facing brand and Northerner operates country storefronts in the United Kingdom, United States and Germany. Snushjem and Snuslageret serve Norway; Snusbolaget, Snusnetto and Nettotobak serve Sweden; Snusmarkt serves Switzerland; VapeGlobe serves Germany. The group portfolio is the boundary source connecting these consumer sites to Haypp.

Platform and fulfilment

Local shops share payment, data and warehouse infrastructure

The operating model links online acquisition, payment, distribution and service with analysis of category and customer behaviour. Haypp reports company-operated warehouses in Sweden, Norway, the United Kingdom and Texas, plus third-party logistics in Germany. The Texas facility replaced US third-party warehouses with one automated operation, while a unified European sales platform was completed during 2025. Snusmarkt illustrates cross-border fulfilment, shipping Swiss orders from Stockholm.

Regulated retail controls

Market rules, age checks and product review shape the catalogue

Haypp states that each storefront follows the laws, regulations and industry practices of its market. Its 2025 report describes age verification, customer-order-destination traceability and testing of new products considered for the assortment. These are operating controls for an adult nicotine retailer, not health guidance: availability, permitted categories and verification methods differ by jurisdiction.

Strategy in management's words

Search, assortment, insights and compliance form the flywheel

Haypp's investor materials present a model in which specialist search traffic brings adults to broad assortments, purchasing behaviour informs suppliers, and fulfilment scale supports delivery economics. The May 2026 ABGSC deck and recording add concrete views of storefront traffic, product launches, media and insights services, logistics and age-access systems. These materials explain management's strategy; they are not independent assessments of product risks.

Current 2026 update

What has changed in 2026?

Q1 2026 · 7 May 2026

Q1 2026latest official update
4company-specific highlights
−10%2026 stock return · context only

Revenue

Q1 net sales rose to SEK 1,104.0m from SEK 923.2m.

Q1 2026 · SEK 1,104.0m · +19.6%

Active consumers

Active consumers rose to 652,000 from 553,000.

Q1 2026 · 652,000 · +17.9%

Adjusted EBITDA

Q1 adjusted EBITDA fell to SEK 52.0m from SEK 68.1m.

Q1 2026 · SEK 52.0m · -23.6%

Operating profit

Q1 operating profit fell to SEK 14.0m from SEK 37.8m.

Q1 2026 · SEK 14.0m · -63.0%

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202536+53%+118%+423%