July 26, 2023
Top 40 Suppliers 2023: No. 26 Stormtech
Counselor’s exclusive ranking of the suppliers with the most revenue in the promotional products industry.
Stormtech
(asi/89869)
Company Snapshot
Revenue figures are in $millions
Previous Rank: 30
2022 Revenue: $65.7
2021 Revenue: $49.4
Year-Over-Year Difference: 33.0%
2020 Revenue: $43.6
2019 Revenue: $47.2
Top Company Officer: Blake Annable, CEO
Year Founded: 1977
Headquarters: Burnaby, BC
Financials Certified By: Blake Annable, Allen Gerllays, CEO & CFO
Burnaby, BC-based Stormtech comes off a healthy year in 2022, marked by a 33% revenue increase. The company says it committed to high inventory levels during COVID, which opened up opportunities to land new customers and campaigns, and was also able to meet demand for premium products when sourcing retail brands proved to be a challenge during the pandemic. New product categories played a role too; the company reports a 90% increase in bag sales in 2022, its fastest-growing category.
The supplier opened its first U.S. distribution center in Dallas in late 2022 and will be opening an additional distribution center and decoration facility in Toronto later this year. Shane Brett, formerly with Cutter & Buck Canada (asi/47967), recently joined as COO. And in a recent move, it struck a partnership with top five supplier Hit Promotional Products that gives Stormtech exposure to a broader array of distributors and buyers.