Fiskars Corporation
Inside information
February 5, 2026 at 8.25 a.m. EET
Inside information: Fiskars Group's Business Area Vita plans changes to turn
around its financial performance and lay foundations for profitable growth
Fiskars Group's Business Area (BA) Vita is planning changes to drive a
turnaround in its financial performance and lay foundations for profitable
growth. The planned changes include simplifying BA Vita's organizational
structure to reduce complexity as well as right-sizing capacity and streamlining
operations at selected manufacturing and distribution sites.
With the planned changes in its organizational structure, BA Vita is further
strengthening its brand-led approach, where the brands have full accountability
and responsibility for their direction and offering. This is supported by strong
local execution at the market level as well as lean global BA Vita functions,
which enable scalability.
In the supply chain, BA Vita is in the process of consolidating all production
in Denmark into one location in Glostrup, and has made the decision to outsource
its distribution center in the U.S. to improve asset efficiency. BA Vita also
plans to right-size capacity at selected European manufacturing sites outside
the Nordics.
The planned changes are expected to lead to a net reduction of approximately 310
roles globally in BA Vita, of which slightly more than half is office based. As
the planning progresses, BA Vita will engage and work closely with its employees
and employee representatives to ensure that they are fully informed and
consulted about the proposals. Processes and timelines will vary in different
countries and functions.
The planned changes are estimated to result in total annual cost savings of
approximately EUR 28 million, of which the majority is from personnel cost
savings, and the rest from supply chain efficiencies, external services and
other overheads. Close to one third of the total savings is expected to realize
in the second half of 2026, and the majority of the rest of the savings in 2027.
One-off costs related to the planned changes are expected to amount to a total
of approximately EUR 9 million and they will be recorded as items affecting
comparability (IAC) during 2026.
“Our aim is to build global, iconic, desirable brands and scale for profitable
growth across all our markets. To achieve this, we need a structure and way of
operating that reflect our ambitions. The planned actions we have announced
today are essential to reset the business and enable a successful turnaround,”
says Daniel Lalonde, CEO of Vita.
Jyri Luomakoski, Fiskars Group's President and CEO continues: “Our two Business
Areas operate independently to ensure flexibility and speed of execution. While
BA Fiskars has been able to mitigate the impacts from the challenging tariff
environment by repositioning its SG&A cost base, BA Vita is now initiating the
required steps for its turnaround. The planned actions relate exclusively to
Business Area Vita, with the Group continuing to support the Business Areas
through a lean and effective organization.”
FISKARS CORPORATION
Jyri Luomakoski
President & CEO
Further information:
Investor and analyst contacts: Essi Lipponen, Director, Investor Relations, tel.
+358 40 829 1192
Media contacts: Media Relations, press@fiskars.com, tel. +358 40 553 3151
Fiskars Group in brief
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven
brands for indoor and outdoor living. Since 1649, we have designed products of
timeless, purposeful, and functional beauty, while driving innovation and
sustainable growth. In 2024, Fiskars Group's global net sales were EUR 1.2
billion and we had close to 7,000 employees. We have two Business Areas (BA),
Vita and Fiskars.
BA Vita offers premium and luxury products for the tableware, drinkware, jewelry
and interior categories. Its well-known brands include Georg Jensen, Royal
Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2024, BA Vita's
reported net sales were EUR 605 million. Already 50% of BA Vita's net sales
comes from direct-to-consumer sales, comprising approximately 500 stores and
approximately 60 e-commerce sites.
BA Fiskars consists of the gardening and outdoor categories, in addition to the
scissors and creating, as well as cooking categories. The brands include Fiskars
and Gerber. In 2024, BA Fiskars' net sales were EUR 547 million.
Read more: fiskarsgroup.com