A Danish furniture company is aiming to reach a turnover of DKK 100 million in 2025, building on strong momentum from the first quarter of the year, where revenue grew by 30%.
New Works founders Knut Bendik Humlevik & Nikolaj Meier.
New Works, founded in 2015, has seen steady international growth despite wider industry challenges. The company, known for its Scandinavian design, now operates in over 40 countries through more than 1,000 retailers and recently expanded into new 1,100 sq m headquarters in central Copenhagen. The move, seen as a strategic step, coincides with the design festival 3 Days of Design, which attracts nearly 50,000 international visitors.
CEO Nikolaj Meier said the brand is "breaking the trends in the industry" and continues to invest in staff and physical space to support growth. While gross profit increased from DKK 21.5 million in 2023 to DKK 24 million in 2024, profits dipped slightly due to expansion costs.
The company has also entered a new collaboration with French champagne producer Taittinger, strengthening its presence in the contract market, which includes furnishing hotels, restaurants, and office spaces. Management aims to double revenue from contract projects within three years.
International growth remains a key focus, with increased traction in Germany, the Benelux region, France, and the UK. While there is interest from markets such as Asia and Australia, the company remains cautious about the US due to ongoing tariff uncertainties.
New Works continues to launch new products and strengthen its sales force as part of a long-term strategy to unlock untapped potential and differentiate itself from competitors in a post-pandemic market.
Source: www.wood-supply.dk