LONDON — Georg Jensen, the Danish homeware and fine jewelry brand, has turned a profit for the first time in a decade.
The privately owned company said profit in the fiscal year ended Dec. 31 was 8 million Danish kroner, or $1.5 million, compared with a loss of 128 million kroner, or $24.7 million, in 2009.
All figures have been converted from the Danish krone at average exchange rates for the relevant periods.
Sales, meanwhile, rose 10 percent to 847 million kroner, or $157.5 million, from 768 million kroner, or $148.3 million. Growth was driven by Asia, not including Japan, and the Scandinavian markets. Growth in the U.S. was in the double digits, the company said.
“We used 2009 to clean up our operations, which means we started 2010 with a clean house and a great platform for growth,” Ulrik Garde Due, the brand’s chief executive officer, told WWD.
“We’re in the black for the first time in 10 years, and our overheads are in line with our turnover,” he said.
Garde Due is a little more than halfway through a five-year plan aimed at streamlining operations, fine-tuning products and burnishing Georg Jensen’s image with the aim of becoming the Scandinavian global luxury lifestyle brand.
The company is a wholly owned subsidiary of the Royal Scandinavia Group, whose majority shareholder is the private equity fund Axcel. Axcel also owns another Danish homeware brand, Royal Copenhagen.
Over the past two years, Georg Jensen has closed 23 stores and opened 15 others with a homey new design concept and a warm, midcentury-modern feel. A “kitchen counter” with bar stools where customers can sit, have a coffee or a glass of Champagne and view the merchandise is at the core of every store. The newly refurbished store on London’s New Bond Street opened last month.
Garde Due added the brand also was expanding rapidly in China, where it will have nine stores by the end of the year.
This year, the company plans to push deeper into Europe and the U.S., associating itself with multibrand fashion retailers.
In April, during Milan’s Salone del Mobile, Jensen will launch its Masterpiece collection at 10 Corso Como. The collection features iconic pieces, such as the curving pitcher and tray by the silversmith Henning Koppel, in stainless steel. In May, Masterpiece will roll out to Dover Street Market in London. Garde Due said Masterpiece would launch in the U.S. this summer, although he declined to confirm the name of the retailer.
Also in April, the company will introduce a version of its Koppel Pendant watch — updated by Verbal and Yoon, the Japan-based, husband-and-wife design duo. The watch will come in five colors and cost 500 pounds, or $805. Jensen also plans to launch its updated, international Web site in the U.S. on April 1.
The company’s first major ad campaign was unveiled earlier this year, and Garde Due said it would run for the duration of the year. It features the Danish model Freja Beha Erichsen, partially nude and adorned with the brand’s jewelry in a stately looking dining room filled with fruit, cheese, flowers — and silver Georg Jensen tableware.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)