New Wave Group AB (publ) (NEWA-B.ST) Stock Analysis & Winston Score

New Wave Group is a Swedish company that designs and sells clothing, accessories, and promotional products. Its main customers are businesses that want branded workwear, sports teams that need uniforms, and retailers selling casual apparel. The company owns a large portfolio of brands, including Craft, Clique, and STIHL-licensed gear, and acts as a supplier to the corporate gifting and sportswear markets across Europe and beyond. New Wave makes money by selling physical products — clothing, bags, and accessories — to business customers and retailers, mostly through wholesale and direct sales channels. It operates primarily in Europe, with Sweden as its home base, and generates roughly 12 billion SEK in annual revenue. Its competitive edge comes from owning many niche brands under one roof, which gives it scale in sourcing and broad reach across different customer segments. The main risk is that its low gross margins leave little room for error if raw material costs rise or demand from corporate customers weakens.