Fiskars starka varumärkesportfölj är imponerande, men samtidigt har bolaget historiskt varit något av en underpresterare. Potential finns, både kvalitetsmässigt, produktmässigt och marknadsmässigt.
Fiskars imponerande brandportfölj, källa: Fiskar Group CMD presentation 2021
Bolaget är globalt, med verksamhet i 100 länder. De största marknaderna är Europa och USA, medan Kina är den marknad som växer snabbast, även om den totala andelen i procent fortfarande är liten.
Bolaget omsätter över en 1,2 miljarder euro. Ändå är det omsättningen som tidigare år har varit stötestenen. Man har kunnat förbättra resultatet, men haft svårt med att växa organiskt. Med ny ledning och strategi, där man ”satsar på vinnare för att vinna”, rustar man nu om för tillväxt, vilket man även kunnat uppvisa under de senaste kvartalen.
Here are some thoughts and questions from an uninformed small-scale investor.
I see that this year is not very strong for Fiskars. Demand is not very good in the Nordic countries, and I read that revenue is likely to decline in the United States as well. Apparently, profit margins are also suffering because stores want to clear their inventories.
Do you believe in Fiskars’ new strategy? As far as I understand, the new strategy emphasizes strong brands, which sounds simply good. However, in the new strategy, it sounds challenging to me to increase sales through their own stores. What do you think? Additionally, there is a greater focus on China, so do you believe that China will play a very significant role in Fiskars’ future?
Hi, in short - yes, I think the strategy is good, of course it still needs execution as well.
I think own stores is a good way to drive sales especially in the Vita-segment, where the own stores mostly are. Trying to sell garden or kitchen products through Fiskars-branded own stores would likely be more challenging. But overall I think there’s room to increase to own retail, both stores and e-commerce (and also Fiskars-branded products in e-commerce). China has already grown well in the recent years and I dont see why they couldnt continue doing that. Company has said it could be the third largest country for them (behind USA and Finland) in a few years, which would mean 6-10 % of sales. That’s realistic in my view as it was 4 % in 2022.
You can read more on our thoughts in the recent extensive report, published in March.
