SVP Worldwide is an American privately held company that designs, manufactures, and distributes consumer sewing machines and accessories around the world under three brands: Singer,[1] Husqvarna Viking, and Pfaff.[2]
The company's corporate headquarters is located in Nashville, Tennessee, and is supplemented by regional headquarters and sales offices located in Milan (Italy), São Paulo (Brazil), and Sydney (Australia).[3]
Via its affiliates, SVP operates in more than 180 countries.[4]
The company has its central R&D, sales, and customer service employees in the Huskvarna/Jönköping region of Sweden with support teams in Shanghai, London and Nashville.[3]
History
SVP was formed when Kohlberg & Company, an American private equity firm that owned the Swedish VSM Group (owner of the Husqvarna Viking and Pfaff sewing machine brands), combined VSM with Singer,[5] which it acquired in 2004 for $134 million.[6] The company was founded in 2006[2] and was formerly headquartered in Hamilton, Bermuda.
In 2018, Kohlberg & Company sold SVP Worldwide to Ares Management, a publicly traded global asset manager based in Los Angeles.[7]
In 2020, SVP's subsidiary Singer reported an increase in machine sales due to the COVID-19 pandemic. In response, the company released a variety of patterns for DIY reusable face masks.[8] Also in 2020, SVP collaborated with the Amazon Prime show Making the Cut.[9]
In 2021, SVP unveiled an upcoming sewing machine, the Pfaff Creative Icon 2, which will operate with artificial intelligence functions.[10] Also in 2021, SVP was acquired by Platinum Equity.[11]
See also
External links
References
- John Klooster. Icons of Invention: The Makers of the Modern World from Gutenberg to Gates Greenwood Press, 2009^
- Olivia Oran. Exclusive: Kohlberg looking to sell Singer sewing machine company - sources Reuters, 12 March 2014, retrieved 28 November 2019^
- SVP Worldwide Announces Its New Research and Development Facility in Huskvarna/Jönköping area in Swe – SVP Worldwide www.svpworldwide.com^
- Locations SVP Worldwide, retrieved April 25, 2021^
- Jack Buckman. Unraveling The Threads: The Life, Death and Resurrection of the Singer Sewing Machine Company, America's First Multi-National Corporation Dog Ear Publishing, 2016^
- Kohlberg Unit Buys Singer Brand and Business The New York Times, October 2, 2004, retrieved December 20, 2019^
- About – SVP Worldwide Svpworldwide.com, retrieved December 20, 2019^
- Jura Koncius. The pandemic-fueled demand for masks has reignited interest in an age-old skill The Washington Post, July 1, 2020, retrieved April 25, 2021^
- Adam Tschorn. Our fashion critic reviews 'Making the Cut's' winning looks: 'Coachella-worthy' Los Angeles Times, April 17, 2020, retrieved April 25, 2021^
- Chrissie McClatchie. A Stitch in Time: Carl-Martin Lindahl The CEO Magazine, February 15, 2021, retrieved April 25, 2021^
- Platinum Equity Completes Acquisition Of Global Sewing Machine Manufacturer SVP Worldwide PR Newswire, August 2, 2021^