Fiskars Group plans investments and changes in glass production to better cater for the premium and luxury product portfolio
Fiskars Corporation
Press release
April 25, 2024 at 08.35 a.m. EEST
Fiskars Group plans investments and changes in glass production to better cater for the premium and luxury product portfolio
In line with its strategy, Fiskars Group is strengthening its focus on premium and luxury products and is planning to make changes in its two glass factories, Rogaska factory in Slovenia and Iittala factory in Finland. Over the course of 2024-2026, Fiskars Group is investing EUR 15 million in the Rogaska glass factory, where many luxury brand Waterford’s crystal products are manufactured. The aim of the investment is to modernize the factory and improve its competitiveness. It will also lead to meaningful reductions in carbon dioxide emissions, accelerating Fiskars Group’s progress towards its net-zero target. Previously, the Group has announced sizeable investments in the Iittala glass factory, part of which has already been implemented.
The planned changes at the glass factories also aim to optimize production capacity to better cater for the production of Fiskars Group’s premium and luxury product portfolio.
“We are actively managing our brand portfolio and elevating the Group profile more towards premium and luxury brands, by focusing on what we do best: pioneering design and craftmanship. Iittala and Rogaska factories continue to be an important part of our manufacturing footprint, as demonstrated by the investments we make in them. With these planned changes, we are ensuring their competitiveness both in the short and long term” says Nathalie Ahlström, Fiskars Group’s President and CEO.
In addition to the planned changes at the glass factories, Fiskars Group is planning to centralize distribution operations in Finland into one location, Hämeenlinna, to optimize logistics and further improve customer experience. Currently, the Group has a small distribution center in Billnäs, Finland, which the Group plans to close. The Billnäs factory continues to be core to the production of the Fiskars brand.
Fiskars Group initiates employee negotiations regarding the planned changes. The Group estimates that the planned changes will lead to a reduction of maximum 155 roles at the Rogaska factory, maximum 19 roles at the Iittala factory and 18 roles at the Billnäs distribution center. Additionally, the Group plans to implement furloughs of maximum 90 days concerning maximum 137 employees at the Iittala factory to reduce elevated inventories.
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.
FISKARS CORPORATION
Further information:
Media contacts: Media Relations, press@fiskars.com, tel. +358 40 553 3151
About Fiskars Group
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Our brands include Fiskars, Georg Jensen, Gerber, Iittala, Moomin Arabia, Royal Copenhagen, Waterford, and Wedgwood. Our brands are present in more than 100 countries and we have close to 450 own stores. We have approximately 7,000 employees and our global net sales in 2023 were EUR 1.1 billion.
We are driven by our common purpose: Pioneering design to make the everyday extraordinary. In 2024, we are celebrating our 375th anniversary. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth.
Read more: fiskarsgroup.com