Vordingborg Køkkenet is now embarking on a Swedish adventure. At the beginning of February, the kitchen chain will open its first store in Sweden when the doors open to a new branch in Malmö.
According to managing director Mads Skjoldby, the venture in Sweden is the result of extensive groundwork.
- We have studied the Swedish market. It is pressured, and the competition is tough as in Denmark, but we are probably ten years ahead in Denmark when it comes to service, he says.
Vordingborg Køkkenet sells kitchens, bathroom, utility room, and wardrobe solutions through its own stores and online. The chain markets itself with the slogan “Luxury everyone can afford”.
Pressured market
The kitchen market is pressured in Denmark, and there is tough competition. In other words, you have to be skilled to get the customer's signature. Therefore, it is also natural to look at other markets. Something that is not too far away either.
- We have a wide store network in Denmark, so it is quite natural for us to look towards Sweden. Malmö is close, and we can service the new business from Vordingborg, says Mads Skjoldby.
Since Mads Skjoldby took the director's chair a good year and a half ago, there has been an adjustment of the store network. The adjustment means, among other things, that the chain has said goodbye to two Danish stores in Valby and Viby in Aarhus, while new addresses have been added. First with the opening in Tórshavn in the Faroe Islands and now with a double venture, where Rønne and Malmö are next. According to the director, the point is to streamline the structure while the chain moves closer to customers in the areas where it sees the greatest potential.
More stores may follow
Vordingborg Køkkenet is entering Sweden with solid financial figures behind it. In the latest financial year, the company delivered a profit of 12.4 million DKK, while equity at the end of the year stood at 39.8 million DKK. The solvency ratio is calculated at just under 34 percent.
And after many years of solid profits, it places the company in a situation where there is financial room to invest and think bigger.
The opening in Malmö is intended as the first step in a new market.
- If things go well in Malmö, the plan is for Helsingborg and Gothenburg to follow, says Mads Skjoldby.
