The path for Boris Lennerhov to now step in as an investor in by Benson has not happened overnight. Behind the deal is a long-standing relationship that has taken shape over the years. It concerns joint projects far outside the world of e-commerce.
The founder and CEO, Anna Benson, explains that the contact dates back over a decade, where they have, among other things, worked together on various charitable organizations. They are also united by an interest in the industry itself, as the former Gekås CEO has his own experience from the garden retail trade.
I have known Boris for almost 15 years and we have done a few joint projects. Among other things, in collaboration when I was an ambassador for Rosa Bandet, Cancerfonden and Prostatacancerförbundet. Boris also runs his own garden center in Varberg, says Anna Benson.
The main person himself agrees that the personal contact was a factor in the decision. At the same time, it was the e-retailer's packaging of the range that caught his interest from a business perspective. It is about offering solutions for the end consumer that combine benefit with design.
I have known Anna for a long time, so that was the first reason. Basically, I think the concept that by Benson stands for is very interesting. These are practical and functional products for the garden with developed design that stands out in that segment, says Boris Lennerhov.
Million Turnover And A New Type Of Consumer
The investment is taking place at a time when by Benson is in an expansion phase.
After 2025 where the company halved its inventory and implemented efficiency improvements in logistics, sales curves are pointing upwards. During the past year, turnover landed at SEK 10.5 million. Operating profit amounted to minus SEK 2.1 million, but thanks to the strategic moves in the supply chain, the e-retailer still managed to show black figures on the bottom line.
Now, the e-commerce company reports that development so far this year is 160 percent higher than the previous year, and 98 percent above budget.
Chairman of the Board Pingis Berg-Hadenius says that this upward trend was the basis for the talks with the new investor.
Boris likes the company and the niche we are in, garden with a focus on e-commerce. He expressed that we have a grip on the situation, given the development the company has shown during the year. We are very high above budget and over 100 percent compared to the previous year, says Pingis Berg-Hadenius.
For Boris Lennerhov, the company's strength also lies in how they meet a changing market. He describes a shift in how consumers view their outdoor environment today, compared to a few decades ago. The responsibility and interest in the outdoor area have gained a new dynamic.
The garden is now much more women's arena and then it becomes very much more important that it is functional, practical and beautiful at the same time. The target group is very clear, he says.
The time when the patio only consisted of a lawn and a plastic table is over, he believes, and highlights how the garden today rather functions as an extension of the home's interior:
Previously, it was much more the male part that took care of the exterior of the house, the summer cottage or whatever it might be. Nowadays, it is much more dominated by women who want it neat and beautiful. From the terrace consisting of a dining table and a grill, it is now more of a glazed nicely decorated living room. Usually decorated by women with good taste. The man now only rules over the unnecessarily large grill.
Smålandic Thriftiness Guides The Journey Forward
Going from leading the department store in Ullared to stepping into a niche e-commerce company within garden design means a change of environment. But it is precisely the experience of large-scale physical retail and the understanding of customer behavior that is expected to be an addition to by Benson's board of directors in the future.
This is quite a long way from what Gekås Ullared mainly does. I can hopefully add knowledge about customer behavior and a lot about running a company rationally and efficiently, says Boris Lennerhov.
Just profitability and efficiency are keywords that the e-retailer himself emphasizes. Simply selling large volumes has not been the main goal for by Benson, but the focus is on building a stable structure that lasts over time. Pingis Berg-Hadenius points out that the parties share the same vision of how the company's growth should be navigated.
Boris has built an impressive retail business for more than 30 years and was also the one who initiated and built Gekås successfully. He shares our strategic view of how to create profitable growth, not by running the fastest, but by focusing on the right things, she says and concludes with:
It is this we do: we grow consciously, structurally and with profitability as a compass. We all carry with us a Smålandic thriftiness, and that is a strength that characterizes how we build the company forward. That also makes it fun.