Fiskars Group has signed an agreement with Investcorp to buy the renowned Danish luxury lifestyle brand Georg Jensen by acquiring 100 per cent of the shares of Georg Jensen Investment APS for EUR 151.5 million.
The brand offers iconic products in home and jewellery categories. Having a 120-year heritage and a strong focus on craftsmanship, creativity and design, Georg Jensen fits well in Fiskars Group’s luxury home brand portfolio and extends the luxury brands’ share of the Group’s net sales from 25 per cent to over one third. In 2022, Georg Jensen’s net sales were EUR 158.1 million and EBIT was EUR 14.9 million.
The acquisition supports Fiskars Group’s growth strategy by expanding the company’s luxury home brand portfolio, which already includes the iconic brands of Royal Copenhagen, Waterford and Wedgwood. Furthermore, reuniting the beloved Danish design brands Georg Jensen and Royal Copenhagen offers attractive commercial excellence opportunities. Georg Jensen’s position in direct-to-consumer (DTC) channels is strong with over 50 per cent of sales from own retail and e-commerce. In terms of markets, Fiskars Group sees potential to expand the brand’s presence in China in particular. Commercial excellence, DTC and China are three of the four transformation levers in Fiskars Group’s Growth strategy.
“Being an iconic brand with a strong heritage and focus on pioneering design, Georg Jensen is a perfect fit to Fiskars Group’s family of brands both strategically and culturally. We are delighted to welcome Georg Jensen and its employees to Fiskars Group.
With this acquisition, we will reinforce our offering in the luxury home products. At Fiskars Group, we want to build holistic lifestyle brands that surround consumers and Georg Jensen fits this description extremely well. Based on our experience in driving consumer relevance and understanding consumer desire, we see many opportunities to further elevate this renowned lifestyle brand,” says Nathalie Ahlström, Fiskars Group’s president and CEO.