Press Release - 16.11.2023 - 08:00
The design company Bolia holds market share and accelerates expansion
It has been a challenging year for the home furnishing industry, with sales negatively affected by inflation and low consumer confidence across Europe. Despite the challenging market situation, the activity level at the Danish design company Bolia has remained high. Store expansions continued during the year, paving the way for future growth, and new stores were opened across Europe, as well as in new markets such as Spain and Singapore. Major investments were also maintained in design and concept development, sustainable initiatives, and digitalization.
The total sales results for 2022/23 landed at 1.3 billion DKK, which is at the same high level as 2021/22, a record year for the company. However, after thirteen consecutive profitable years, the EBIT result for the year 2022/23 landed at -5.6 million DKK compared to 50 million DKK the previous year.
"Our annual result has primarily been negatively affected by a high currency exchange loss due to the weak Norwegian and Swedish currencies and raw material price increases, which we have chosen not to pass on fully to our customers," Lars Lyse Hansen, the CEO of Bolia International A/S, explains.
In the coming year, Bolia will continue the strong development of its design collection, introduce new sustainable initiatives, and accelerate international expansion. New Bolia concept stores have already been opened at prestigious locations in Leipzig, Dresden, Brussels, and Paris, and store expansion will continue with a focus on Germany, France, and Spain, along with new initiatives for expansion through global agents and dealers. In addition to this, Bolia will enter a new continent during spring 2024 by opening the first Bolia concept store in Australia, Melbourne.
Bolia.com is a Danish design company with 85 design stores in Denmark, Sweden, Norway, Germany, Belgium, The Netherlands, Switzerland, Austria, Luxembourg, France, Spain, and Singapore and web shops in 30 additional countries in Europe. Bolia furthermore cooperates with more than 600 retailers in over 50 countries worldwide.
Bolia’s design collective includes more than 40 international designers who share a passion for sustainable solutions and New Scandinavian Design. Through close cooperation two annual collections are created, which always take their starting point in the everchanging Scandinavian nature and every design is tailored specifically for the customer’s desires and needs.
Bolia.com has been a part of Lars Larsen Group since 2001.