Fiskars Group plans changes to drive Business Area Vita’s long-term growth through simplified organizational structure, increased efficiency and strategic investments
Fiskars Corporation
Press release
February 6, 2025 at 8:35 a.m. EET
Fiskars Group plans changes to drive Business Area Vita’s long-term growth through simplified organizational structure, increased efficiency and strategic investments
Fiskars Group is planning changes to drive Business Area (BA) Vita’s long-term growth through simplified organizational structure, increased efficiency and strategic investments. The planned changes include deepening the relationship between the brands, geographical markets and consumers as well as simplifying some of BA Vita’s operations. The planned changes enable increased speed and focus on execution in the local markets.
The planned changes are estimated to result in total annual cost savings of approximately EUR 10 million, out of which the majority would realize during 2025. Supported by the planned savings from the organizational changes, Fiskars Group is re-investing in Business Area (BA) Vita’s growth, particularly in marketing and demand creation, over the course of 2025. The planned investments amount to approximately EUR 12 million.
One-off costs related to the planned changes are expected to amount to a total of approximately EUR 4 million and they are expected to be recorded as items affecting comparability (IAC).
The planned changes are not expected to have a material impact on Fiskars Group’s financial position or results in 2025.
“In line with our strategy and our ‘brands first’ approach, Business Areas have accountability for their performance. These planned changes in BA Vita further improve brands’ ability to drive their strategy as well as enable faster and more impactful execution. They also ensure that the markets can fully focus on the local execution of the BA strategy, while growing the brands and driving sales performance. The planned changes will bring us even closer to our customers and consumers – a fundamental requirement for our design-driven Vita brands”, says Nathalie Ahlström, Fiskars Group’s President and CEO and Interim CEO of Vita.
The planned organizational changes in BA Vita are expected to lead to a net reduction of approximately 120 roles globally, of which approximately 20 are in Finland. As the planning progresses, Fiskars Group will engage and work closely with its employees and employee representatives to ensure that they are fully informed and consulted about the proposals. Processes and timelines will vary in different countries and functions.
FISKARS CORPORATION
Nathalie Ahlström
President & CEO
Media and investor contacts:
Sanna Hellstedt, Director, Investor Relations (interim) and External Communications, tel. +358 40 553 3151
Fiskars Group in brief
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth. In 2024, Fiskars Group’s global net sales were EUR 1.2 billion and we had close to 7,000 employees. We have two Business Areas (BA), Vita and Fiskars.
BA Vita offers premium and luxury products for the tableware, drinkware, jewelry and interior categories. Its well-known brands include Georg Jensen, Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2024, BA Vita’s reported net sales were EUR 605 million. Already 50% of BA Vita’s net sales comes from direct-to-consumer sales, comprising approximately 500 stores and approximately 60 e-commerce sites.
BA Fiskars consists of the gardening and outdoor categories, in addition to the scissors and creating, as well as cooking categories. The brands include Fiskars and Gerber. In 2024, BA Fiskars’ net sales were EUR 547 million.
Read more: fiskarsgroup.com