Strax: Undiscovered value case
We initiate coverage of Strax – one of Europe’s largest specialized distributors in mobile accessories. Strax combines its distribution platform with own brands, which is a unique strategy that provides Strax’s own brands immediate exposure to a vast distribution network of 40 000 points of sales. We argue that the market overlooks the strength of the business model and Strax’s track record in growing its own brands.