In 2022, Jacobsen Plus, a family-owned design house, opened its first store on Strøget in Copenhagen, welcoming prominent new co-owners. Despite this promising venture, the company reported its first loss since 2011 at the end of 2023. The loss is attributed to significant investments in new store openings in Aarhus and Copenhagen.
Photo: Dreamstime
In an article on Wood Supply, CEO Peter Jacobsen described the year as challenging but views the loss as temporary. He believes the investments align with the company's forward-looking vision and will create long-term value for the company and its employees. Jacobsen explained that it typically takes several years for new stores to become profitable, referencing a similar timeframe for their store in Horsens.
In 2022, prominent family members Troels and Anders Holch Povlsen acquired a 30% stake in Jacobsen Plus, which they increased to 49% in the spring of 2023. This investment has provided substantial equity, allowing the company to prioritize development over immediate profits. Despite the short-term financial hit, Jacobsen remains optimistic about the future, expecting the new stores to start generating profits within a few years.
Source: www.wood-supply.dk