Hemtex has 26.4% of the Swedish market

Hemtex is the market leader in the Swedish market for home textiles. From January to December 2008, the value of the Swedish home textiles market declined by 4.5%, according to the most recent figures from the market research company GfK. The figures show that Hemtex’s market share amounted to 26.4% during the year, compared with 28.4% for the preceding year. The company’s closest competitors had market shares of 12.0% and 10.4%, respectively.

For July-December 2008, the six-month period most recently reported on by GfK, Hemtex’s market share was 25.6%, compared with 26.9 percent for the corresponding period in 2007.

“In a very tough market, we have succeeded in retaining the market share we recorded after September 2008. This means that we are satisfactorily sharing the challenges with our competitors in a shrinking market. We expect the market trend to remain weak during the first half of 2009, which means implementation of the company’s developed strategies will be subject to stringent requirements – primarily within communication, price and selection – in combination with the ongoing cost-cutting and efficiency-enhancement programs,” says Gunnel Bergström, SVP Product Range and Market at Hemtex.

In 2008, Hemtex lost market share in several home textile product areas, primarily bathroom textiles. Hemtex had a positive trend for quilts, blankets and rugs, increasing its market share.