Hemtex has 28.1% of the Swedish market

Hemtex maintains its strong position as market leader in the Swedish home textiles market. Measured over the latest 12-month period (April 2007 – March 2008), Hemtex’s market share has decreased to 28.1%, compared with 31.3% during the period April 2006 – March 2007. The closest competitors had market shares of 12.7% and 10.0%, respectively.

During the first quarter of 2008, Hemtex’s market share declined slightly to 27.8% (29.1) in a market that decreased in value by 5%, according to figures from the market research company, GfK.

“The first quarter of 2008 started with weak demand for home textile products. A strong sales trend was noted for bed linen and bath products during the first quarter of the preceding year, while this year these groups decreased in both value and volume. We can state that we were not successful in defending our high shares in a declining market, which required a high level of activity and led to pressure on the margins of our products,” says Hemtex President and CEO, Anders Jansson, who adds:

“In mid-May, we will introduce our brand U.S. Polo Assn. (Home Collection), which we expect to boost stores in terms of sales and concept. We believe we have great potential to increase our market shares again, where product-range development and a new communication strategy are the keys to our success in strengthening the brand by increasing and clarifying market communication. The new communication strategy will be implemented during the second half of 2008.”