All right, I'm just going to read the disclosure. For important disclosures, please see the Morgan Stanley Research Disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales rep. So with that, thanks everyone for joining the SharkNinja Fireside. I'm Megan Clapp. I'm the U.S. leisure analyst here at Morgan Stanley. Really glad to be joined with Mark Barrocas, the company's CEO. For any of you unfamiliar, SharkNinja is a global manufacturer of consumer appliances. They're sold through the brands Shark and Ninja. I'm sure everyone in here probably has some product under those brands in their house today. But Mark, again, thanks for joining. Maybe we could start with a bit of a backwards-looking question.
SharkNinja has grown revenue close to 30% this year, not only a nice acceleration from last year, but at the same time, it's really not every day that you see a company that's been around for over 20 years putting up numbers like that. So maybe you could start by giving us some perspective on what's been the primary drivers of that growth this year. How much has been the category improving just after a post-COVID lull, incremental innovation, entry to new markets?
Yeah, sure. Well, look, over the last 16 years, SharkNinja has grown at a compounded growth rate of 20% a year. We've had one down year in the last 15 years. So this has historically been a company that has been able to grow at 20% a year. And it's really driven by kind of three things. I mean, it's disruptive product innovation that solves consumer problems. It's great storytelling that creates consumer demand for our products. And it's an obsessed with winning approach to sales execution. And I think that we've been in a market that over the last 16 years has grown at about 2.5% a year. We've grown at 20% during that period of time. We grew last year 15%, as you pointed out. We grew this year close to 30%. And the growth is really broad-based.
I mean, it's coming from we're gaining share in the existing categories that we're in. We're expanding into new and adjacent categories for the Shark and Ninja brands. And we're growing and expanding internationally considerably. So you kind of put all of those things together, and that's what's kind of driving the growth flywheel.
Great, and maybe the here and now for a moment. You reported 3Q earnings a little over a month ago, I think, at this point. You mentioned you've been growing 30% year to date. Your guidance implies something in the mid-teens range for the fourth quarter. Part of that was just the demand's been so strong, and you can't supply all of it, and you're shifting some product launches in certain markets to 2025. But maybe talk about the primary drivers, rank them of that over 30% year to date to what's implied here in the fourth quarter. And this is the consumer conference, and we had Black Friday last week, and we've heard from a couple of companies. So kind of anything you can share on demand through Black Friday.
Yeah. Look, I mean, the consumer for our products is strong. I mean, and it's not just in North America. I mean, we're seeing that in Europe as well. I mean, we just came through Black Friday and Cyber Monday, and we're seeing strong demand at much higher average sale prices than in the past. I mean, we're selling $799 robots. We're selling $499 espresso and coffee makers. We're selling $299 SLUSHi machines. And so I think number one is we feel strong about where the consumer is for our products. We're not seeing more discounting than we did prior year. I mean, let's keep in mind when we provided our guidance back on October 31st. It was pre-election. There was a lot of uncertainty as to what the news cycle was going to look like over the course of the week or two post-election, shorter holiday season.
But I think as we have come through now Black Friday and we're into December, we're seeing the consumer holding up strong for our products. And there are some supply challenges on some of our hot-selling products that we've launched into the market. We believe we'll be able to recover on those in the first quarter of next year. But at least as it relates to the health of the consumer, I mean, we feel good about the health of the consumer.
Great. So those hot-selling products, I think I get asked often, how do they keep coming up with hot-selling products? What's the secret sauce? What makes them different? And you talked about it a little bit in your first answer about disruptive innovation, problem-solving. But how do you always stay ahead of the competition, and how do you do it at a close to 50% gross margin?
Yeah. Well, look, it didn't happen overnight. I mean, we've been doing this now for a long period of time. I mean, we have 1,100 engineers around the world. We've got a really scaled innovation organization. When you look at a lot of our products, it's not just mechanical engineering. I mean, we've got a really strong electrical group and software group and mechatronics group. And so I think it starts with kind of we've got incredible technical chops within our business. And I think that's something that is overlooked by investors as they look at the home appliance space. I mean, there is a lot of technology, and I think we've created a very large competitive moat, I think, between us and the marketplace.
I think number two is I think we have an incredible approach to consumer insights and kind of identifying these known and unknown consumer problems that exist out there. I mean, I'll give you an example. We just launched our first skincare product in the UK called the Shark CryoGlow. The product was the most searched product on boots.com during Black Friday. I mean, we had only launched it three weeks earlier in the UK. So I think you've got brands that consumers trust and love in the Shark and Ninja brands. I think we're finding really interesting white spaces to expand those brands into. I think the technology and the innovation team that we have behind it. And then I think we've got an incredibly scaled supply chain.
And I think that is also something that is not fully understood by investors is our ability to be able to deliver at scale, fast turn times, high-quality products at very competitive prices. You look at the product that we've put out in the CryoGlow, I mean, it's a $299 product. You look at what we've done in the coffee and espresso space with our Luxe Café at $499. I mean, we're delivering way more to the consumer, and we're doing it at an extraordinary value.
You talked about the supply chain. You talked last quarter about making some investments in your supply chain to accelerate manufacturing out of China. Maybe spend a little bit more time talking about what exactly you're doing there. If you can quantify the investments, how long you expect them to persist?
Yeah. So look, I mean, this is a four-and-a-half-year journey. I mean, we made our first product outside of China a little over four years ago. 35% of our product that comes into the U.S. today is tariffed at 25%. All of that production is produced today outside of China. So we have successfully mitigated that, set up manufacturing facilities in Southeast Asia, and have scaled up and are doing it at cost parity. So the product that we are producing today outside of China and inside of China is all at the same cost. It has always been our strategy that for our U.S. production, we wanted to move all of our manufacturing outside of China. We had set a goal for ourselves back a year ago that at the end of 2025, all of our U.S. production would be able to be made outside of China.
We revisited that over the summer, and we made the decision to pull that forward, and so 90% of our US production will be able to be made outside of China by the end of Q2. What is the gating item to be able to scale up and do that? It's manufacturing line setup. It's efficiency. It is quality. I mean, those are the main things. I mentioned in our last earnings call that in Q4 and Q1 and Q2, we would see an elevated level of spending on supply chain. That's really coming in the way of consultants and contract labor that is kind of helping us scale across 16 factories in Southeast Asia. We need to move 35 million units outside of China and produce those in Southeast Asia.
We think we're on track to be able to do that and to deliver roughly 90% of our production by the end of Q2.
And just as a follow-up, how do you think about, as you mentioned, moving 35 million units? It is no small feat, and I think you're doing it a lot faster than maybe others could do it. So how do you think about managing risk as it execution risk as it relates to product continuity if your demand is so strong?
Yeah. Look, I mean, I think if you go back two years ago, I think we had this really nice strategy that said, "We're going to scale down China manufacturing. We're going to scale up outside of China manufacturing." And we'd be able to redeploy the resources that we had within China and move them to Southeast Asia to help us set up the factories in Southeast Asia. We've experienced a lot of growth outside of the United States. I mean, our international business grew 62% in the third quarter. And so we're not able to scale down China manufacturing. And so we need to kind of run these redundant supply chains in China and outside of China. The biggest things that we have to watch out for are efficiency and quality. And I think the ways to mitigate that risk is to not go too fast.
I mean, to give you an idea, an average manufacturing line in China for vacuums produces 1,800 units a day. We start off outside of China, and we produce 30-50 units a day. I mean, it is a very, very slow ramp-up to be able to scale. We spend an enormous amount of time focused on molding tolerances and sub-suppliers because we've got to make sure that the right quality components are getting to the manufacturing lines and that we're not getting bad parts that are going to the manufacturing lines. So it's a lot of eyes on it. It's a lot of redundant belts and suspenders to make sure that the product that's going out is meeting the demands that the consumer has from a quality standpoint.
Makes sense. You spoke about it a little bit, but the growth in the international business has been really impressive this year. As you think about, I think, correct me if I'm wrong, but your international business is a little bit over a billion of sales today.
We'll finish this year over $1.6 billion.
Great. So as you think about that first $1.6 billion, UK is a little bit of a more mature market. You recently went into Germany, Italy, France. How do we think about what countries have driven that first $1.6 billion? And can you get that? How quickly can you scale to that next $1.6 billion based on the countries you're in today?
Look, I mean, our U.K. business is about a $900 million business of that $1.6 billion plus. We believe Germany has the capability to be a little bit bigger than that. We believe that France could be a little bit smaller than that. Roughly speaking, when we think about international, what we have to start with is Germany and France. Okay, in Germany and France, there's $2 billion of growth opportunity, we believe. Those businesses for us are growing at triple digits. Our U.K. business grew 6% in the third quarter, but our overall international business grew 62%. I mean, we are really growing at scale now in both Germany and France. Those markets are so important because those retailers are kind of linchpins into other areas of Europe.
If we're successful with Euronics and MediaMarkt in Germany, they move us into Poland and Austria and Switzerland and Spain. If we're successful with Fnac, Darty and Boulanger, that's helping us in Benelux and kind of other markets. Those are kind of like two anchor markets for us. I think for you as investors to look at how we're doing, I would go number one and look at online reviews. I mean, consumers in those markets are loving our products, are rating our products with very high online reviews, as high as we get in North America for our products. That's number one. Number two is from a market share data standpoint, if you look at GfK, we're growing market share tremendously.
If you go to social media and you look at keyword searches around Shark or Ninja in Germany and France, they're up significantly to prior year. And if you walk store walks, retailers have given us a tremendous amount of incremental placement this year versus last year in those markets. So I'm excited by the fact that I think that coming out of this holiday season, these retailers in Germany and France, who by the way, we didn't sell those markets three years ago, are really going to start planning their business around SharkNinja much in the way that the North American and the UK retailers are planning their business. But it all starts with, does the consumer love the product? And do we have an ability to be able to tell great stories and create consumer demand? I think we're doing that really effectively in those markets.
But it's happening as well in the Nordics. It's happening in Spain and Italy. Our Mexico business is growing tremendously. We expanded into the Middle East, into Saudi and UAE. We also expanded recently into Brazil. So it starts with, do our products resonate with a global consumer? And I think just by going online, you can see that they are. By going on social media, you can see how consumers are engaging with us.
You touched on the marketing investment and building brand awareness in some of these new markets. I think you've talked about when you go into a new market, first year, you can be spending 25% plus of sales on marketing. In your more mature markets, you're spending closer to maybe mid to high single digits. When you think about some of those newer markets in Europe, where are you from a marketing as a % of sales perspective? And as you think about, you're clearly front-loading some of those to build the brand awareness and get the reputation with the retailers. Is Europe as a region a region that can be accretive to margins in 2025?
Yeah. So look, I would say that if you look at our overall business, we spend about 11% of sales on advertising. In the U.S., we spend about 6.5%, 7% of sales. So we're spending in a mature market like that, that's roughly what we should be spending. In the U.K., we spend about 11% of sales. And in many of these emerging countries, as you said, we're spending upwards of 25% of sales. The first thing to think about when we look at margins are how are the gross margins in those countries? And our gross margins in Germany or France look very similar to the U.K. or the United States. I mean, they're roughly 50% gross margin. So on the gross margin line, we're performing really well.
It's just going to take us some time to kind of scale to have the media's percentage of sales start to come down. I mean, the UK at one point was 25%. Today, it's 10-11%. Germany, as you said, was 30%. And by next year, it'll be in the high teens. SharkNinja hasn't historically bought a dollar of revenue. I mean, we build revenue by developing products ourselves, by launching products into new markets. And so the growth driver of the business is R&D and awareness and media investment for our products. And so, as I said, we didn't sell our first product in Germany until three years ago. And so it wasn't like the German consumer have kind of grown up on the Shark and Ninja brands.
I think in a very short period of time, with great products and great marketing and advertising, we've been able to really be able to build demand awareness, build brand awareness. I'll tell you kind of a really interesting fact. Look, we have seven times more social media engagement than our nearest competitor, seven times more engagement. And that means kind of likes and shares and reposts and comments and things like that. We didn't spend a single dollar of media. We've only launched our Ninja SLUSHi product in the United States. We didn't spend a dollar of media in the UK. But we went and we shipped in a couple of thousand units last week just to get a test of is there demand in the market for the product. The 2,500 units sold out in 30 minutes.
In 30 minutes, just by social media hearing that the Slushie was available in the UK. So what it points out is that the media that we're investing, it's not like it was 10 years ago or 15 years ago that you ran a commercial on NBC, and the only people that saw it were the people who were watching NBC during that period of time. The social media that we're running, if you go into the comment section and you look, what you're going to see is people writing comments about when is the product coming to Portugal? When is the product coming to Norway? And so it's amazing how demand is being created from this advertising globally, and it's not just being constrained to one market.
That's really helpful, and Patraic not here, but on the last earnings call, I think he said something about having a high bar in 2025. Everything we've talked about today, maybe some lost demand that might shift to 2025 as you launch new products, continued incremental innovation. Large numbers, of course, will set in at some point. You are growing billions of dollars, but as we think about that, maybe just help us contextualize that comment, how you're thinking about planning for 2025 at this point.
Yeah. So look, I think we've historically been a double-digit growth business. But I think that we always take kind of a conservative approach to planning. I mean, the only thing that is 100% in our control as a company is what we spend. So how do we build an expense base that is cautious and conservative and then chase what's out there? And so I think Patraic was just referencing the fact that we take a conservative view, but we've historically, for 16 years, been a double-digit growth company, and we believe we'll continue to be a double-digit growth company. I mean, we've got a great pipeline of new products. Investors ask me, have you gone into every category that's out there?
I think if we were sitting here last year at this time, would you have imagined that SharkNinja would make an LED infrared cryo face mask and that we would make an indoor-outdoor fan and that we would make a cooler that stores your food and your beverages? I mean, so I mean, I think there's lots more categories for us to be able to enter into. I think there's lots more places in the home and outside of the home for our brands to be able to expand into. I think that in a lot of these international markets, we're still very much in the early innings of building our business and building our awareness. So I think you put all of those together, but we also have a conservative CFO that is probably doing the right thing.
Fair enough. You spoke about higher ASPs doing well recently. And to your point, Café Luxe, I think, is $499, robot $799. As you think about going into those higher price points, what have you learned, I guess, about the consumer reception? I think even in our dinner last night, you mentioned you've taken prices up as you've seen demand get stronger. So how do you think about the brand's positioning from an overall pricing standpoint? And does that make you reevaluate or change the strategy at all as it relates to incremental innovation going forward?
Yeah. So let's start with the business model is what we term affordable accessible innovation. Okay, we are not going to deviate from that. I mean, over the last 16 years, I've had people join the company, and they get enamored with, let's sell this in Williams-Sonoma. Let's sell this. We want to make products for everyone. Okay, that is the model of the business. We want to sell the Walmart consumer. We want to sell the Sephora consumer. We want to sell everyone in between there. I think the real question is, are we delivering products that deliver market-leading performance, high quality, and great value? And great value is the key question and the key message there.
I think what we learned out of Ninja Luxe Café is, yes, $499 sounds like a lot of money for a coffee and espresso maker, and it is, but relative to a market that's average sell price is $800 and only delivers espresso, it's actually great value. And I think what you're seeing when you read social media posts about it or when you read YouTube reviews of our product is, wow, the product has so much versatility. It makes espresso and coffee and cold brew and iced coffee and all these different drinks. And it's $499. I think we're doing all of this, and we're giving the consumer great value. I mean, we're selling $799 robots. I mean, you have to understand that on Black Friday, the market is littered with $199 robots.
I mean, we're excited that our Shark PowerDetect robots are commanding $799, but they vacuum your floor, they mop the floor, they go back to the dock, they refill themselves with liquid, they clean the pad, they wash the pad. I mean, they do about everything that they can to you other than serve you dinner, and when the consumer engages with a product like that and they look at a comparison, you could pay $1,500 for a product like that, and at $799, the consumer is saying, this seems like the right choice for me, I mean, with everything that I'm getting, so I think we have to make sure that we don't deviate from this quotient of market-leading performance, solving some problem for the consumer. The products are high quality and reliable, and we deliver it at extraordinary value.
When we put all those pieces together, that's where we win.
We've talked about this a little bit, but your gross margin performance. So, approaching 50% this year, you are going to make some supply chain investments. Presumably, we'll see a decent amount of those in gross margin next year. But at the same time, you're seeing strong growth in higher ASP products, categories like beauty that you've stated are higher margin. DTC maybe could be an offset. So, how should we think about the puts and takes around gross margin going forward from this kind of 50% level? And is there any pushback from retailers when they see your gross margin close to 50%? Do they want some of that back for them?
Oh, no, they're more than happy for us to keep the gross margin. Look, I would say that it's a matter of how much we're investing back into the business. Okay, if the retailers didn't know that they can bank on SharkNinja is going to not just deliver this Christmas for them, but it's going to deliver every Christmas moving forward. Okay, I mean, spending 7% of sales on R&D, spending 11% of sales, I think everyone recognizes that we are driving traffic into the stores. We're driving traffic online. So I don't think that's per se a conversation. I think the conversation is, look, we have to give great value to the consumer. And I think that you will see kind of incremental margin improvement over the coming years, but small. I don't think we're promising kind of massive margin improvement.
I think there's a lot of mix that goes on within our margin. I mean, we're in 34 different countries. We're selling in different channels. We're in different product categories. I mean, so when you put all of that soup together, we're trying to kind of manage the overall margin to a particular number. But I think you should expect some incremental margin expansion as we get into 2025, but really making sure that we don't deviate from pushing our price points beyond what the consumer feels like is great value, and also ensuring that we're working with our retail partners and them seeing that there's real value to the innovation that we're bringing.
I mean, when they come to our office in Boston and they look at kind of what we have, not just for this Christmas season, but for next Christmas season, I mean, I think it kind of gives them pause for a minute to say, look, we need a company like that in the industry. I mean, we need someone that is getting the consumer excited and pushing up average sell price and is not relying just on price promotions to drive traffic into the stores. This is good for the industry. I mean, what SharkNinja is doing is good for the industry.
To that point, you have really strong retailer relationships, but how does DTC fit into your overall strategy? I think it's interesting. A year ago, I think if we were sitting in this room, said SharkNinja, a lot of people have been like, "And I'm like, SharkNinja," and they understood it and clearly, the brand awareness from the investment community is a lot stronger, but I'm sure that's happening as you launch a lot of hot products too, so do you think you have the right to have a DTC business, and how do you kind of manage the retail relationship?
We are 100% an omnichannel business, and we want to be relevant wherever the consumer chooses to shop for our products. I mean, that is our stated goal for the last 16 years, and that's what it will be moving forward. Now, there are reasons why it's important for us to be able to get information from consumers that are buying our products. I mean, I'll give you a good example. We launched the Ninja SLUSHi. Immediately, we were able to get demand feedback that impacted our supply chain and our capacity that would have taken a couple of weeks for us to be able to get from the retailers. That was number one. Number two is we launched the product at $249. We immediately saw that demand was very excited for the product. Within two days, we increased the price to $269.
I mean, we realized that kind of we had some pricing power to exert with that product. So that's number two. Number three is, look, in the first 30 days, we want to hear from consumers about what we've done really well and what we haven't done really well. If a consumer goes and buys a product at a retailer, it could take 14 weeks for that product to come back to us for us to evaluate. When we sell a product direct to the consumer, that product's instantly coming back to us in a day if we need it to evaluate. So I think there's a lot of reasons why, particularly at launch, it's important for us to kind of focus the first 30 days or so on the products being launched direct to consumer and then start to scale out beyond that.
I think the other thing, particularly as we got into places like beauty, there are things that we can do on our direct-to-consumer site that retailers simply can't do. If you want to go and buy a Shark FlexStyle today, you could pick your own configuration and build your own configuration. You can't do that at all of our retailer partners. So I think what we have figured out is there's a role for DTC. We just established a great partnership with Salesforce. It was announced yesterday on their quarterly earnings call. We saw the platforms that they've developed with Agentforce and some of the other things that we're doing.
We've kind of recognized this would be a stairstep improvement for consumers that are interacting with us, both on the sales side and the service side. We'll be rolling out their platform in Q3 of next year.
Awesome. I do want to pause here and see if there's any questions in the room. Could you just wait for the mic so the webcast can hear? Thank you.
Okay. So when you think about your R&D and your supply chain, go-to-market, and the 25 launches you've been doing a year, with the opportunity set getting bigger, right, more verticals, more problems to solve for the consumer price points, right, there's a lot of things going in your favor. What could that number reasonably be? And would you want to potentially front-load or accelerate your innovation roadmap or just continue to be very measured despite the fact that potentially your R&D opportunity is getting bigger? How do you sort of think about that versus all the other infrastructure, your marketing, your distribution, etc.?
Yeah. Look, R&D is kind of one facet of a successful go-to-market strategy. I think in some cases, we've almost done too good a job on the innovation side, and I think there's areas in marketing that have to catch up to the product innovation side. I think on the supply chain side, we've got a lot of movement that's going on in our global supply chain. I've been asked today from a lot of investors, we're launching too many products into the market. Should you scale back the number of products that you're launching into the market? In fact, somebody even asked me, should you shut down the innovation for a bit? The answer to that is absolutely no. Okay, companies fight to make sure that they are highly innovative. You don't want to slow that down.
I think what we have to figure out is we want to manage the business to the fastest horse in the race and not to the slowest horse in the race. And so we've got to do, I think, what do I think maybe we bit off too much of? It's going to be really hard to launch a product globally at the same time. I think our strategy always was launch in North America, expand it into the U.K., expand it into Europe. And I think we tried last year, and our thinking was this year, could we compress that time period a lot tighter as opposed to it taking a year for it to scale? Could we compress that timeline to three months or four months?
I think what we've come to realize is that's a really big challenge, that we launched our Ninja SLUSHi with one set of tooling producing 25,000 units a month, and today we're scaling up to 200,000 units a month. It is just the ability you can't front-load that. I mean.
Supply chain is the bottleneck to.
Supply chain is a bottleneck. I mean, having too many marketing messages in the marketplace. I mean, if you think about right now, if you go onto social media, I mean, we've got this incredible new product, the Ninja Crispi. We've got this great product, Ninja Luxe Café. We've got the Ninja SLUSHi. We've got the Ninja CREAMi. We've got our core blending business. We've got this great cooler business in Ninja. I mean, I was showing some investors earlier. There's a TikTok post online that has 1.3 million impressions, and it has 250,000 likes. It's basically someone writing, "Ninja R&D team, please stop. My pocketbook can't handle it anymore." Look, it's a great challenge to have, but I think our innovation is at the right level. I think there's a marketing element. There's a supply chain element.
All of those things, I think, need to be able to catch up. But look, these are all high-class problems to have in a business, and I think we just need to manage it effectively as we move forward.
Thank you.
Anyone else?
Hey, Mark. Salesforce comment. That's kind of interesting. What did you guys kind of see with the new products, Agentforce upcoming, that led you to kind of have that partnership and what kind of impact on the business do you kind of envision having?
Yeah. So look, I mean, as we planned, let's say going back a year ago, I mean, we looked at e-commerce, and we said e-commerce is something that we want to do in 2027. And we went, and we kind of looked at our direct-to-consumer business. And quite frankly, I think that people are buying from us on our websites because they really demand our products, not because we're providing a great sales experience. And so I feel like we've got to do right by the consumer, and we've got to improve both our sales experience and our service experience. I think Salesforce came to us and showed us some of the things that they're doing with AI. I mean, we were having a conversation with them, and we said we're in 34 different product categories.
One of the biggest challenges is that to train call center agents across 34 different categories, you have a call center agent that has a robot call, and then has a hairdryer call, and then has a cooler call, and then has an outdoor grilling call. How do we provide a great consumer experience? They came to us, and they said, "Do you have a whole lot of content around this?" We said, "We've got a bazillion things of content." They said, "Agentforce can help you do it." They showed us a bunch of demos around it, and the demos were incredible of how the consumer can ask a question and how through all of our instruction books that my guess is most consumers are not reading or going through.
There's so much content that's there, but we're just not able to serve it up to the consumer in a digestible way for them to be able to access it and understand it, and I think what they've presented to us and what they have with Agentforce is really compelling. I mean, just being a layman consumer myself and kind of going through the demo myself, I was amazed at what could come out of it, so we decided that as a result of that, we were kind of all in on moving forward.
Great. Maybe we'll finish on a fun note. So your favorite product, holiday giftable product that's not sold out to help all of us who haven't done our shopping yet? And what are you most looking forward to in 2025 that you can share?
Look, what am I most excited about? I mean, in 2009, I wrote a mission statement for the business, which was positively impacting people's lives every day in every home around the world. At the time, we were a $200 million business. We didn't make much money, and we only sold our products in the U.S. and Canada, and so I think to kind of come out of the holiday season this year and to go into next year and kind of look at the number of countries that want to grow with SharkNinja. I think it's astonishing. I mean, I sat with the CEO of Currys, our largest retailer in the U.K. I had lunch with them a couple of weeks ago, and they also own the largest retailer in the Nordics, Elkjøp, and he's like, "There's massive opportunity.
We got to get into the Nordics," and I mean, so it's like the retailer's really pushing us to get into these markets that years ago, I mean, I would sit back and say, "God, it would be great if we could sell outside of North America." So that, I would say, is something that I'm most excited. I mean, we're positively impacting more consumers and more homes around the world, and I think we'll do it more next year than we will this year, and in terms of products, I mean, that's going to get me into a lot of trouble here. I mean, it's like saying I have three children. I can't tell you which one I-.
What do you buy for your children?
Yeah. I mean.
What do they want?
Look, listen. I think what we've done in this skincare space with the CryoGlow is incredibly exciting. I mean, I have a 24-year-old and a 20-year-old and an 18-year-old, and they all use the product. I mean, and you would say, "Why are they using an LED infrared cryo face mask?" And they love it. And so I think that category feels a lot like CREAMi when we first started. Small overall market. There's something interesting there, but no one's really kind of put it together in a way for the consumer to kind of understand it and get their arms around it. I think we've got a great story. You should go onto social media and kind of look at what we're doing in the UK with CryoGlow. So I think on that side of the business, on the Shark side of the business, I think it's CryoGlow.
On the Ninja side of the business, I mean, what more exciting product is there than Slushie? I mean, to be able, I mean, we're doing a partnership now with Coke. We're doing a partnership with a whole bunch of celebrities that own alcohol brands. I mean, we did a mailer with Matthew McConaughey with his Pantalones Organic Tequila brand to come up with his best frozen cocktail. I mean, I think it's something that you can take nearly every ready-to-drink beverage in a grocery store, and that's the software and we're the hardware, and turn it into something that is super exciting to be able to enjoy with the family, so I think those are two exciting products.
I hope we don't get you in trouble. Thank you, Mark, for being here, and thanks, everyone, for joining.
Great. Thank you.