The new department store covers 2,500 square meters and has been built in premises previously occupied by the entertainment venue Yoump. The workforce comprises approximately 35 people, with management highlighting that half of the employees are women, which is described as a high proportion for the industry.
Halmstad as a city has strong growth, a strategic location between Gothenburg and Malmö and is a trading region that attracts both local customers and visitors from all of Halland, comments Magnus Kreuger, CEO of Power Sweden.
Coincides with Increased TV Sales
Department store manager Michell Chamoun, who previously led Power's department stores in Högsbo, Torpavallen and Bäckebol, notes that the opening takes place during a period of high demand for consumer electronics, driven by the upcoming FIFA World Cup.
This opening also coincides nicely with the FIFA World Cup. I imagine that some people are considering upgrading their TV solution for the football party, says Michell Chamoun.
According to recent sales figures from Power, demand for larger TV screens has increased significantly ahead of the championship. During the past week, as many TV sets in the size of 85 inches and up were sold as during the entire month of May. Sales of 85-inch TVs have doubled compared to the same period last year, and searches on the company's website for screens between 98 and 115 inches have increased by over 400 percent.
The company's sales manager, Benny Humby, explains the development by saying that consumers are adapting to the match times.
The large screens are selling the most now. People want the World Cup experience in their living room. With several of Sweden's World Cup matches taking place in the middle of the night, many are likely to choose to upgrade their equipment at home instead of watching the match out, says Benny Humby.
Continuation of Offensive Strategy
The establishment in Halmstad follows closely on Power's highly publicized opening on Kungsgatan in Stockholm at the end of May. Despite a smaller area of 800 square meters and strong local competition, the store generated SEK 16 million in turnover on its first day, which became the company's fourth best opening day in history.
The investments are part of a long-term growth plan. Power's stated goal for 2026 is to gain market share and double profitability. The chain plans to establish approximately 30 more department stores in Sweden over the next five years.