April 6, 2018
The move is part of Fiskars' strategy to grow its presence in the premium home and lifestyle markets in the U.S., Europe and Asia Pacific.
Fiskars will pay $437 million (406 million euros) for 100 percent of the shares in the holding company of the WWRD group, including its brands and business operations under the U.S.-based private equity firm KPS Capital Partners. The deal is expected to close by July.
"We are delighted to be bringing together WWRD's portfolio of iconic luxury home and lifestyle brands with Fiskars' highly regarded Living brands of Iittala, Royal Copenhagen, Arabia and Rörstrand, which are renowned for their Scandinavian design and heritage," says Kari Kauniskangas, president and chief executive officer, Fiskars. "Through the acquisition we will create a strong presence forthe Fiskars Living business in the U.S., and further enhance Fiskars' market position in Europe and Asia Pacific."
In the last fiscal year (ending April 4), WWRD saw net sales of $432 million (402 million euros) with 44 percent of those sales coming from the Americas, 35 percent from Asia Pacific and 21 percent from Europe. The company also has a strong retail operation with 226 standalone stores, 76 of which it owns and 150 of which are concession stores. Additionally, the company's brands are also distributed through department stores and specialty retailers in 100 countries worldwide.
WWRD brands also have in place a number of licensing partnerships and collaborations with designers Vera Wang, Jasper Conran, John Rocha, Monique Lhuillier, Gordon Ramsay, Donna Hay, Miranda Kerr, Jo Sampson, Barber and Osgerby.
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.