Reaching $1.43B in sales and facilitating four million orders in 2021, the company saw revenue growth of 25% over 2020. This marks the second consecutive year that Sweetwater has broken the $1B revenue mark, illustrating that despite market volatility and uncertainties around the supply chain, a laser focus on customer experience - the 'Sweetwater Difference' - continues to drive sales and customer retention and acquisition. By going above and beyond in their approach to service, Sweetwater's sales engineers continue to build 1:1 connections that combine a small business feel with large retailer capabilities.
"We're thrilled with our overall performance throughout the last year as we continue to support and expand the music community, helping people both literally and figuratively amplify their voice. In times of turmoil, people often turn to music for comfort, and we are honored to foster that passion and help people grow in their love and creation of music," said John Hopkins, CEO of Sweetwater. "We take this responsibility seriously, as evidenced by our exemplary sales and customer service teams, and our success is a credit to the commitment we make to each and every customer on an individual level."
In addition to record customer growth and sales performance, Sweetwater dedicated time and focus to the expansion of its world-class staff across all facets of operations. Over the past year, Sweetwater ramped up hiring to meet growing demand within its community. Headcount grew by 13% to over 2300 employees, and more than 300 people celebrated promotions within the company. Known for its unique culture, Sweetwater also implemented a new five-pronged approach to employee wellbeing that ensures support around professional, social, physical,
financial and emotional health. Throughout 2022 and beyond, the company will continue building out its workforce while developing the tools and resources necessary to improve quality of life for its hard-working team.
2021 also saw Sweetwater execute on a number of strategic growth initiatives in an effort to increase the company's overall retail and operational capabilities. The online launch of Sweetwater Band & Orchestra saw the company's foray into the specialized product category, supporting musicians whose talents and interests lie all across the band and orchestra realm. Its new 44,000 square foot megastore opened in June 2021 to provide its community with a new one-of-a-kind destination where they can experience exactly what Sweetwater is.
The company also entered into a partnership with Providence Equity Partners to innovate and expand upon its day-to-day operations while staying true to its mission and the 'Sweetwater Difference.' The appointment of John Hopkins, the long-term COO of Sweetwater, as CEO dovetails these efforts. Hopkins is excited to continue to lead Sweetwater in its mission of helping more musicians in the world, building a company with a unique and caring culture, and pursuing opportunities to scale for long-term success.
Hopkins continued, "Through 2021's exciting developments, Sweetwater's vision and mission remain steadfast. Our focus is and will always be ensuring that we're developing new and innovative ways to help make our customers' musical dreams come true."
