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12.12.2012

Axcel sells Royal Copenhagen

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Axcel has sold Royal Copenhagen to the Finnish listed company Fiskars, which was founded in 1649. With sales of around DKK 5.5 billion, Fiskars is one of the leading global producers of quality products for the home, garden and outdoors.

Axcel acquired Royal Copenhagen in 2001, as an integrated part of the Royal Scandinavia Group. Under
Axcel’s ownership the company has undergone an extensive transformation and now stands as a Danish design icon – one with 237 years of history behind it. The successful transformation can be attributed both to strengthening the operational platform, and rationalising and renewing the product portfolio. Thanks to this, in 2011 Royal Copenhagen achieved its best results for more than a decade, with 2012 expected to be even better. 

“Royal Copenhagen has undergone significant change in recent years, and now enjoys bigger and completely different market opportunities than just a few years ago,” says Nikolaj Vejlsgaard, who has been the partner responsible for the investment in Royal Copenhagen at Axcel. “The operational basis is now much stronger and, at the same time, the Royal Copenhagen brand has achieved much sharper positioning. This has led to a substantial improvement in earnings for the company, which now is at the very top of the industry, despite pressure on the market as a whole because of the financial crisis. Taking this new position as its starting point, and with its global presence and long experience within the industry – including ownership of strong brands such as Iittala, Raadvad and Rörstrand – Fiskars will be a good match for Royal Copenhagen and able to support the ongoing strategy of international expansion,” concludes Nikolaj Vejlsgaard.

Mads Ryder, CEO of Royal Copenhagen, believes the strategy has succeeded under Axcel’s ownership:

“Since 2009 we’ve significantly pruned our product range, improved our supply chain and concentrated sales efforts on fewer markets. The improved sales performance is therefore a result of marked growth in sales of our current range and the prioritised markets, and we’re very happy with this. Overall, we have seen double-digit growth within our core range in our two key markets – Denmark and Japan – as well as strong growth in Korea, Taiwan, Germany and Norway. As part of Fiskars we expect to be able to strengthen our position in new markets,” finishes Mads Ryder, who has headed up Royal Copenhagen since 2009.

Fiskars is proud to add Royal Copenhagen to its portfolio:

“In recent years Royal Copenhagen has demonstrated an impressive ability to renew its range and thus appeal to completely new customer groups. We are convinced that with the combination of the expertise and competence of the Royal Copenhagen team led by Mads Ryder and our solid experience in the creation, sales and marketing of quality products for the home, we can take Royal Copenhagen to the next global level. What’s more, with a history going back more than 360 years, Fiskars is Finland’s oldest company, so if anyone understands the value of the Royal Copenhagen brand, it’s us,” says Teemu Kangas-Kärki, President of Fiskars Home business Area.

With the sale of Royal Copenhagen, all the companies in the Royal Scandinavia Group have found new owners.

 

About Royal Copenhagen
Royal Copenhagen, one of Denmark’s oldest companies, is the Scandinavian brand leader in hand-painted porcelain and ranks among the leading brands in Japan. Today Royal Copenhagen is an internationally renowned brand offering exclusive products of superior craftsmanship and design quality. Certain brands can be traced back to 1775, the founding date of Royal Copenhagen. Visit
www.royalcopenhagen.com.

About Fiskars
Fiskars is a leading global supplier of consumer products for the home, garden and outdoors. The group has a strong portfolio of respected international brands, including Fiskars, Iittala and Gerber. Founded in 1649 and listed on NASDAQ OMX Helsinki, Fiskars is Finland's oldest company. Fiskars recorded net sales of EUR 743 million in 2011, and employs some 3,400 people in over 20 countries. Visit
www.fiskarsgroup.com.

About Axcel
Axcel was founded in 1994 by a group of investors from Denmark's largest financial and industrial institutions. Axcel focuses on medium-sized companies in Denmark and Sweden and has a broad base of both Danish and international investors. Axcel has raised four funds with total committed capital of around DKK 10bn and has made 37 investments along with more than 45 significant bolt-on acquisitions. 24 of the companies in which it has invested have so far been sold or floated. Axcel’s investments currently include 14 companies and a significant holding in PANDORA, representing combined revenue of around DKK 16.4 billion and more than 12,000 employees. Visit
www.axcel.dk.

 

For further information about this press release, please contact:

Axcel

Partner, Nikolaj Vejlsgaard

Tel. +45 263 264 02

Royal Copenhagen

President & CEO, Mads Ryder

Tel. +45 38 14 91 92

 

Head of Communicatons, Anne Wehner

Mobile +45 22 71 03 02

Fiskars
President Fiskars Home, Teemu Kangas-Kärki,
Tel. +358 204 39 5703

 

Director, Corporate Communications, Anu Ilvonen,
Tel. +358 204 39 5446

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Press room content are intended for media use only and must not be altered in any way. The Press room content, including, without limitation, all design illustrations, are protected by copyright and/or other intellectual property rights and/or applicable Danish Law.

Copyright © Royal Copenhagen A/S.

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Terms & Conditions

Welcome to Royal Copenhagen.
When you are shopping with us you are automatically accepting our sales conditions. This is why we advise you to thoroughly read through all of the below mentioned terms and conditions before you start to shop on Royal Copenhagen.

Miscellaneous
We send all merchandise as packages, which make it possible to track them in case of problems. During shipment the package is insured and we kindly ask you to verify the content upon delivery. Should the package or the content be damaged upon arrival please report it to the currier immediately, or no later than two days after receiving it. Then return the merchandise to us. Royal Copenhagen is not responsible for merchandise that is damaged during transportation. We always pack everything carefully, thereby minimizing possible damage.

Shipping and handling
In Royal Copenhagen we strive on a quick delivery, so all orders are shipped within 1-2 business days. In connection with the sale and holiday season it is expected to be longer delivery time. Should there be delays with the currier, Royal Copenhagen can not be held liable.

Goods to most other EU countries and countries outside the EU will be sent via GLS or Post Danmark and delivery may take up to 6 business days.

Shipping in Denmark
All shipments in Denmark are delivered by Post Danmark. Shipping cost is included on orders above 500 DKK.

Freight rates within DK: 75 DKK

Shipping abroad
All shipments abroad are delivered by GLS or Post Danmark and sent as an insured package and business mail, which means that the package can not be sent as a gift to non-EU countries in an attempt to evade local taxes and duties.

Freight rates within EU: 13 Euro
Freight rates outside EU: 50 Euro

Regular service in Europe is app. 5-6 business days.
Regular service outside of Europe is app. 7-8 business days.

Returns
Royal Copenhagen gladly accepts returns. You have to return the merchandise no later than 14 workdays from the date of receipt. The return must be in original packaging. As soon as we have received the returned items and they have undergone a quality control check we will credit your account/credit card. We only credit the card that was used to purchase the items, in that way we can limit the use of stolen credit cards. Please keep your postage receipt as a proof that the package was sent. You are responsible for the return expenses.

Gift returns
If you have received an item from Royal Copenhagen as a gift you do not want, you can return it and exchange for another item of the same value. In case you want a more expensive item you have the option of paying the difference as well as shipment fees. You can also choose to return the gift and receive an online voucher.
We cannot return any money as only the credit card used to purchase the item(s) can be credited.

Notification of defects
All merchandise is covered by The Danish Sale of Goods, giving you 24 months to complain about an item. As a customer you can complain about defects and deficiencies that arise within 24 months of the purchase. However, if the defects, deficiencies, or usage are due to negligent use, a lack of maintenance, or simply because of normal usage your right to complain is renounced. In case of a complaint or a missing delivery please contact Customer Service, telephone +45 38 14 48 48 or send an e-mail to: customerservice@royalcopenhagen.com
Royal Copenhagen does not cover shipping fees in case of a complaint.

Item availability
In case an item is sold out you may contact us at: customerservice@royalcopenhagen.com. A customer service agent will inform you if we can re-order the item, or maybe help you find a similar item.

Payment methods
Royal Copenhagen accepts the following credit cards: Dankort,VISA/Dankort, EURO/MASTERCARD, and VISA/Electron. The amount will not be drawn from your card before the merchandise leaves our stock. All prices are indicated in EUR or DKK (the Danish currency) and a 25% sales tax/VAT is included, unless the package is being sent outside the EU. Please see below under the section Customs and sales tax/vat.

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Discounts given as a voucher can not be combined with other discounts or offers and will not apply on already discounted items.

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Customs and sales tax/vat
If your order is placed from an EU country you will have to pay the Danish sales tax/VAT but no customs fee. This is according to customs policies regarding sales within the EU. If, however, your order is placed outside the EU you will not have to pay the Danish sales tax/VAT but you may have to pay additional tax and duties in the country of destination. Royal Copenhagen is not responsible for these or for any fees charged by customs. The carrier will contact you in case of any extra charges or customs clearance. This might delay the delivery. Please be advised that it is your responsibility to pay for these extra charges.

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Royal Copenhagen follow the guidelines prescribed by the Danish Law. We operate strictly under the current laws, rules, and regulations, sat forth by the Danish Consumer Department.

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