Tackle Trade World - February 2024

Rapala VMC
FEATURE
Then the Covid-19 lockdowns ended,
people started travelling and group
exercising. In retrospect, it’s easy to say that
you should have kept a cool head and saved
money, but who could do that?
I believe that with strict cost control,
targeted marketing, personnel training and,
especially, further investment in the best
customer work on the market, the company
will be able to succeed excellently, both in
the short and especially in the long term.
WHAT HAVE BEEN THE BIGGEST
CHALLENGES RECENTLY FOR RAPALA
VMC AND FOR THE WIDER TACKLE
INDUSTRY?
One large change is in our lure
production. We promptly decided that what
needs to be done, we will do it quickly and
then move on.
In the modern factory in Pärnu, Estonia,
we have invested heavily in technology and
newest production methods. We will always
make our advanced, handcrafted lures using
our own technology. The products that
were made in the discontinued factory in
Indonesia are now being made in selected
partners mainly in Asian countries.
We all know the sudden stop of Covid
euphoria resulted in not only inventories
in all parts of the supply chain but also an
increase in the production capacities around
the world. This added to the problem.
with Wild West metaphors.
“If I keep my ear to the ground, I hear
demand is coming, but you cannot really be
sure when,” I can say with a smile.
Throughout my career, I’ve changed
things. Sold, closed, integrated. There’s
practically no acquisition I haven’t done.
In the big picture, I don’t plan to make big
changes from my predecessor.
For example, a stronger focus on the
Rapala brand was left unfinished. Now it
will be implemented.
But I’d say we made a small strategic
mistake when we reduced sales of thirdparty
products too fast and too strongly.
That’s partly why the results suffered so
badly.
My plan is to use the sales network
again by distributing more products made
by others. This is also how the network’s
expenses are covered.
A record number of boats were sold in
North America during the Covid-19 era.
There is such a strong undercurrent that
it will not disappear anywhere. On the
contrary.
Rapala has distribution, brands, product
development and manufacturing of critical
WE KNOW THAT OVERSTOCKING
FOLLOWING COVID-19 HAS
BEEN A MAJOR ISSUE. RECENT
COMMUNICATIONS FROM RAPALA
VMC SEEM TO SUGGEST YOU SEE THIS
SITUATION STARTING TO IMPROVE.
WHY?
I believe the normalisation of the overdemand
situation created by coronavirus
is nearing completion and believe this will
benefit Rapala. We are closely monitoring
market trends and expect the recovery will
open opportunities for new growth plans.
Rapala’s success is based not only
on a strong globally renowned brand,
but also on skilled, professional and
committed personnel. The company
continuously invests in the development
of its personnel and the improvement of
working conditions to ensure a high level
of competence and teamwork.
This human-centric approach is an
integral part of Rapala VMC Corporation’s
business philosophy and competitive
advantage on a global level.
To strengthen customer relationships,
Rapala will be in constant interaction
with its customers and is ready to adapt to
changing market conditions. Rapala’s goal
is to be the best partner for its customers.
I’d like to describe the market situation
Jim Coble and
Lars Ollberg
agree increased
holding in
13Fishing
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