Hilding Anders is a player operating worldwide with almost 5,000 employees and a presence in over 40 countries. In Sweden, the company is most associated with the well-known bed brand Carpe Diem, which is owned by the subsidiary Hilding Anders Sweden AB. The brand has built a strong position in the Swedish premium bed market and reaches its customers through a growing e-commerce platform combined with sales through physical retailers.
The Swedish operation, led by CEO Peter Sturm, has navigated a market characterized by economic restraint in recent years. According to the Swedish annual report for 2024 (as last year's figures have not yet been published), revenue amounted to SEK 759.1 million. Operating profit, at the same time, stopped at SEK -3.9 million.
Looking at the entire parent group, Hilding Anders Financing AB, revenue for the remaining business amounted to SEK 6.4 billion in 2024, with an operating profit of SEK -135 million.
The Blow From Finland Redraws The Map
The challenges have been noticeable, not least in neighboring Finland. When Indoor Group – the company behind the major furniture chains Asko and Sotka – went bankrupt, Hilding Anders' factory in Närpes was immediately affected. This is reported by Yle.
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Klaus Erbismann, Head of Finland and the Baltics, draws a parallel to the stagnant construction sector:
Purchasing power has decreased and the construction sector unfortunately stands completely still. When people are not building houses or housing is not being built, people do not move and then people do not buy furniture. It becomes a difficult equation, he says to the site.
To manage the reduced volumes, the factory in Närpes was forced to introduce layoffs for parts of the workforce. The strategy has been to retain competence and avoid redundancies while waiting for the economic climate to turn.
The Turnaround: "People Always Have To Sleep"
Despite the setbacks of recent years, the bed manufacturer is now beginning to see a glimmer of hope. A central part of the optimism lies in the realization that beds fulfill a function that is independent of economic trends. Klaus Erbismann believes that sleep is a basic human need that ensures the market always has a stable baseline.
The positive thing is that people always have to sleep. So this basic need is not going anywhere.
When Asko and Sotka disappeared, as dominant in the Finnish market, a void was created that is now beginning to be filled by other players. Hilding Anders is noticing a redistribution where existing customers are taking over market shares, which has given an unexpected boost to volumes.
We can already see how the market has recovered, and I must say that I am positively surprised that we have achieved the volume we have.
New opportunities are also on the horizon as Asko has new owners. Negotiations regarding future deliveries and collaborations are ongoing.