Fiskars

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Fiskars Oyj Abp
TypeJulkinen osakeyhtiö
Nasdaq HelsinkiFSKRS
IndustryConsumer products
Founded1649; 372 years ago (1649)
Headquarters,
Key people
ProductsScissors, gardening tools, kitchenware, glassware, ceramics, knives, outdoor equipment
RevenueDecrease 1.119 billion € (2018)[2]
Increase 106 million € (2018)[2]
Decrease 82 million € (2018)[2]
Total assetsDecrease 1.719 billion € (2018)[2]
Total equityDecrease 1.207 billion € (2018)[2]
Number of employees
7,304 (average in 2018)[2]
Subsidiaries
Websitewww.fiskarsgroup.com
Footnotes / references
[3]

Fiskars Group (also known as Fiskars Oyj Abp or Fiskars Corporation, and until 1998 as Fiskars Oy Ab) is a Finnish group company. The company has its roots in the village of Fiskars (in the town of Raseborg, about 100 kilometres (62 mi) west of Helsinki), where it was founded in 1649. The oldest business still operating in Finland,[4] the global headquarters are in the Arabianranta district of Helsinki. It is one of the oldest companies in the world.

The company has operated in various sectors over the decades. Fiskars was formerly best known for its orange-handled scissors, created in 1967. More than one billion were sold by 2010.[5] In 2019, its products related to the home, outdoor activities, interior decoration and table setting. Its key brands today include Fiskars, Iittala, Royal Copenhagen, Wedgwood and Waterford.[5]

The Finnish marketing magazine Markkinointi & Mainonta, found Fiskars' brands are regularly among Finland's most valued brands.[6][7][8][9]

History[edit]

The early stages (1649–1915)[edit]

Fiskars village

Fiskars Corporation was formed in 1649, when a Dutch merchant named Peter Thorwöste was given a charter by Christina, Queen of Sweden, to establish a blast furnace and forging operation in the small village of Fiskars; however, he was not permitted to produce cannons.[10] This makes it the oldest privately owned company in Finland.[11] From the outset, the company manufactured products for consumers, industry and agriculture. The furnace produced pig iron that was shingled to wrought iron in the finery forges powered by water wheels. In the early years, Fiskars made nails, wire, hoes, and metal-reinforced wheels from wrought iron.

In the late eighteenth century, copper was discovered in nearby Orijärvi, and thus the focus of production shifted to processing copper from the Orijärvi mine. For almost 80 years, Fiskars' main source of business came from copper, but by the nineteenth century there was little copper left in Orijärvi.[12]

In 1822, the apothecary Johan Jacob Julin (later, von Julin) from Turku acquired the Fiskars ironworks and village. During this time, the ironworks were actively developed and production focused on processing iron. In 1832, the first cutlery mill in Finland was founded in Fiskars, with the production range increasing from knives to include forks and scissors.

After Julin's death, the company became a limited liability company called Fiskars Aktiebolag in 1883.[13] Von Julin’s youngest son, Albert von Julin, took over the management of the company.[14]

In 1915, Fiskars was listed on the Helsinki Stock Exchange.[12][15]

1916–1999[edit]

A pair of scissors with orange plastic handles, the best-known product by Fiskars

Plow production was at its peak in the 1930s, with over a million plows made. The Fiskars Kymppi plow was the most famous of these.[16]

Fiskars made many plastic products in the 1960s, including the first ergonomic plastic-handled scissors the company is perhaps best known for.[17] The scissors were designed by Olof Bäckström, and the first pair was manufactured in 1967. There were prototypes with handles in black, red, green and orange. After an internal vote at Fiskars, the orange color was chosen.[12] Between 1967 and 2010, over a billion units of these orange-handled scissors were sold.[5] The design has changed slightly over time, and in addition to orange, the scissors are manufactured in other colors as well.[18]

In 1977, Fiskars founded a scissors factory in the United States to provide a basis for international trade and further expansion.

2000–[edit]

Fiskars Orange was officially registered as a trademark in Finland in 2003 and in the US in 2007.[12]

Fiskars acquired Iittala Group in the summer of 2007; the value of the transaction was EUR 230 million. The brands owned by Iittala were Arabia, Hackman, BodaNova, Höganäs Keramik, Rörstrand and Høyang-Polaris. With the acquisition, Fiskars became the Nordic market leader in home products.[19] Fiskars also acquired French Leborgne, which strengthened the company's position in the kitchenware and table top categories, as well as the garden tools business.[20]

The acquisition of Royal Copenhagen A/S in 2013 complemented Fiskars' tableware offering with hand-painted porcelain. The company, founded by the Danish royalty in 1775, cost EUR 66 million. Royal Copenhagen was a leading brand in hand-painted porcelain in countries such as Japan.[21]

Waterford Crystal Ball, designed for the New Year's celebrations at Times Square in 2012

In 2015, Fiskars acquired the Waterford Wedgwood group of companies (WWRD) from a US private equity investor. The acquired brands included Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška. WWRD served, among others, as the royal warrant holder of the British royal family for tableware. Waterford has produced the Times Square New Year Eve's ball in New York.[22] The transaction was worth EUR 406 million, and it more than doubled Fiskars' net sales. The number of personnel also increased by almost 50%.[23] In September 2015, Fiskars celebrated 100 years of being listed on the Nasdaq Helsinki Stock Exchange, along with Nokia, Wärtsilä and UPM.[12] Fiskars recorded net sales of 1,105 million euros and an adjusted operating profit of 65.1 million euros. Cash flow from operating activities was 47.6 million euros.[24]

In 2016, Fiskars opened the Iittala & Arabia Design Center in Helsinki, which presents the story of the brands and organizes activities.[25] Fiskars recorded net sales of 1,204.6 million euros and an adjusted operating profit of 93.8 million euros. Cash flow from operating activities was 83.8 million euros.[26] As Finland's oldest company, Fiskars was honored to ring the closing bell of the Nasdaq stock exchange in New York's Times Square on the last trading day of the year on Friday, December 30, 2016. The ringing celebrated Finland's 100th anniversary.[27]

In early 2017, Fiskars Group abandoned its regional organizational structure and formed two strategic business units: Living and Functional. In addition to the English & Crystal Living business, the Scandinavian Living business was included in SBU Living. SBU Functional was formed of the Fiskars, Gerber and Gilmour brands and the Outdoor business.[28] An exhibition was held at the Helsinki Design Museum to mark the 50th anniversary of Fiskars' orange-handled scissors.[17] In April, 2020 Fiskars Group President and CEO Jaana Tuominen stepped down from her position with CFO Sari Pohjonen appointed interim CEO.[1]

In 2019, Fiskars sold Leborgne.[29][30] Fiskars announced that it would release a collection of gardening clothing. The Fiskars by Maria Korkeila collection will be launched at the Pitti Uomo Fashion Fair in Italy in January 2020.[31]

Business units, brands and products[edit]

The company operates as an integrated consumer goods company. In 2019, Fiskars has two strategic business units: SBU Living and SBU Functional.[32]

In 2018, Fiskars' key brands were Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford and Wedgwood.[33]

Fiskars’ products are available in more than 100 countries.[23] Fiskars headquarters are located at Fiskars Campus in the Arabianranta district of Helsinki.

Living[edit]

Waterford Crystal Vase (geograph 3748920)

SBU Living offers a wide range of products for tabletop, giftware and interior décor.

The business is divided into two parts:[32][33]

Other, locally known brands owned by Fiskars in 2019 were:

Functional[edit]

Military entrenching tool manufactured by Fiskars for the US Marines

SBU Functional creates tools for use in and around the home, for example in the garden and outdoors. The unit's brands include:[32][33]

In Finland, the garden tools are manufactured by Fiskars Brands Finland's factories in Pinjainen, near the Billnäs ironworks. The factories also manufacture other products, such as scissors and axes.[34] The majority of product development activities are also based in Pinjainen, but there is a separate product development unit in the United States as well.[35]

Other[edit]

Fiskars’ three primary reporting segments are Living, Functional and Other. The Other segment contains the corporate headquarters, shared services and investments; Fiskars' other business includes real estate operations.[36] They include 15,000 hectares (37,000 acres) of land and forests and the maintenance of several properties. The company owns areas around Fiskars Village and in Hankoniemi, among others. In 2019, there were 3,700 hectares (9,100 acres) of water areas.[37]

Major owners[edit]

Fiskars shares are quoted on the Helsinki Stock Exchange. Among the major shareholders of the company are investment companies of the Ehrnrooth family.

Major shareholders (as of September 30, 2019):[38]

  1. Virala Oy Ab, 15.4%
  2. Turret Oy Ab, 12.6%
  3. Holdix Oy Ab, 12.4%
  4. Bergsrådinnan Sophie von Julins Foundation, 3.1%
  5. Oy Julius Tallberg Ab, 3.1%
  6. Varma Mutual Pension Insurance Company, 3.0%
  7. Gripenberg Gerda Margareta Lindsay Db, 2.4%
  8. von Julin Sofia Margareta dödsbo, 1.9%
  9. Ehrnrooth Jacob Robert Göran, 1.4%
  10. Ilmarinen Mutual Pension Insurance Company, 1.4%

Social responsibility[edit]

An old Sarpaneva pot made by Iittala

In 2017, Fiskars celebrated Finland's centenary by donating the historically valuable Dagmar park in Källviken to Metsähallitus for a hundred years. The nominal annual rent for the area of approximately 40 hectares (99 acres) is one euro. The area includes natural forests, natural sandy beaches, cliffs, sea and the Dagmar fountain. On the initiative of Fiskars, the area became an official nature conservation area.[39][40]

In 2019, Fiskars began selling used Iittala and Arabia tableware in its own stores.[41] Dishes unsuitable for sale are sent for recycling and reuse, for example, as material for the construction industry, as brick powder or as insulation material. Used ceramic and glass dishes by other manufacturers can also be brought to the stores for recycling.[42]

References[edit]

  1. ^ a b Maija, Taimi. "Fiskars Group President and CEO Jaana Tuominen to step down, CFO Sari Pohjonen appointed interim CEO". Fiskars.com. Fiskars Business Group. Retrieved 21 April 2020.
  2. ^ a b c d e f "Financials | Fiskars Corporation". www.fiskarsgroup.com. Retrieved 2019-10-02.
  3. ^ "FSKRS, Fiskars Oyj Abp, (FI0009000400)". NASDAQ. Retrieved 18 November 2017.
  4. ^ Hänninen, Kari. "Fiskars täyttää 360 vuotta". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  5. ^ a b c "Oranssi väri löi täpärästi mustan vuonna 1967 – Fiskarsin 50-vuotiaat sakset ovat yhä hitti maailmalla". Yle Uutiset (in Finnish). Retrieved 2019-10-02.
  6. ^ Kaislaniemi, Mari. "Fazerin Sininen jatkaa kärjessä – Tässä ovat Suomen arvostetuimmat brändit". M&M (in Finnish). Retrieved 2019-10-02.
  7. ^ M&M. "Fazerin Sininen jatkaa yhä kärjessä – Tässä ovat Suomen arvostetuimmat brändit". M&M (in Finnish). Retrieved 2019-10-02.
  8. ^ M&M. "Perinteiset brändit menestyvät". M&M (in Finnish). Retrieved 2019-10-02.
  9. ^ Niipola, Jani. "Suomalaiset arvostavat designia ja kotimaisuutta". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  10. ^ "Fiskars Village History". Archived from the original on 2017-08-21. Retrieved 2017-11-19.
  11. ^ G. Kock. "Suomen vanhimmat yritykset listattu". www.porssitieto.fi. Retrieved 2017-11-11.
  12. ^ a b c d e "Fiskars 1649 – 365 years of Finnish Industrial History" (PDF). www.fiskarsgroup.com. Fiskars Oyj Abp. 2009. Retrieved 2017-01-10.
  13. ^ "Rakennukset ja historia". Fiskars Village (in Finnish). Retrieved 2019-10-02.
  14. ^ Nikander, Gabriel (1929). Fiskars bruks historia (in Swedish). Turku: Fiskars aktiebolag.
  15. ^ "FSKRS | Kurssi | Pörssi | Kauppalehti". FSKRS | Kurssi | Pörssi | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  16. ^ "05/2006 Fiskars 10 – Maatalousmuseo Sarka" (in Finnish). Retrieved 2019-10-02.
  17. ^ a b "Fiskars iloitsee saksiensa menestyksestä – löi Yhdysvalloissa taas myyntiennätyksen". Yle Uutiset (in Finnish). Retrieved 2019-10-02.
  18. ^ Karilahti, Outi (2015-07-29). "Miljardeja myyneen suomalaistuotteen hauska tarina – mistä tuli hittisaksien oranssi väri?". mtvuutiset.fi (in Finnish). Retrieved 2019-10-02.
  19. ^ "Fiskars ostaa designyritys Iittalan". Yle Uutiset (in Finnish). Retrieved 2019-10-02.
  20. ^ Kauppalehti. "Fiskars ostaa ranskalaisen Leborgnen". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  21. ^ Laitila, Mikko. "Fiskars sai kruunun". Talouselämä (in Finnish). Retrieved 2019-10-02.
  22. ^ admin (2017-05-10). "NYE History & Times Square Ball". www.timessquarenyc.org. Retrieved 2019-10-02.
  23. ^ a b "Fiskars ostaa Englannin kuningashuoneen astiaston hovihankkijan – suurkauppa kirittää pörssikurssia". Helsingin Sanomat (in Finnish). 2015-05-11. Retrieved 2019-10-02.
  24. ^ "Fiskars Annual Report 2015" (PDF). Fiskars Corporation. Retrieved 2017-01-10.
  25. ^ M&M. "Fiskars avasi Muotoilukeskuksen ikonisille brändeilleen". M&M (in Finnish). Retrieved 2019-10-02.
  26. ^ "Fiskars Group Annual Report 2016" (PDF). Fiskars Group. Retrieved 18 November 2017.
  27. ^ Mustonen, Antti. "Suomen vanhin yhtiö soittaa pörssikelloa New Yorkissa – Myös kuuluisa kristallipallo liittyy yhtiöön". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  28. ^ M&M. "Fiskars järjestelee brändinsä uudelleen". M&M (in Finnish). Retrieved 2019-10-02.
  29. ^ "Fiskars cède la marque Leborgne" (in French). 2019-02-08. Cite journal requires |journal= (help)
  30. ^ Mustonen, Antti. "Fiskars myymässä työkalut Ranskassa – "Ammattityökalut eivät kuulu ydinliiketoimintaan"". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  31. ^ Perttula, Ville. "Fiskars hakee kasvua uudella aluevaltauksella: haluaa tehdä katu-uskottavaa muotia – "Ei pidä olla liian vaatimaton"". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  32. ^ a b c "Organization | Fiskars Corporation". www.fiskarsgroup.com. Retrieved 2019-10-02.
  33. ^ a b c "Fiskars Group Brochure 2018" (PDF). www.fiskarsgroup.com. Retrieved 2019-10-02.
  34. ^ Lukkari, Esko. "Fiskars myllää taas Billnäsin tehtaansa". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  35. ^ Törmänen, Eeva. "Fiskarsia kopioidaan niin, että tuotekehitys suljetaan lukkojen taakse". Tekniikkatalous (in Finnish). Retrieved 2019-10-02.
  36. ^ "Introducing Fiskars | Fiskars Corporation". www.fiskarsgroup.com. Archived from the original on 2016-11-28. Retrieved 2017-01-10.
  37. ^ "Other | Fiskars Corporation". www.fiskarsgroup.com. Retrieved 2019-10-02.
  38. ^ "Major shareholders | Fiskars Corporation". www.fiskarsgroup.com. Retrieved 2019-10-02.
  39. ^ Eskola, Hanna. "Fiskars tempaisee – lahjoittaa 40 hehtaarin puistoalueen valtiolle sadaksi vuodeksi". M&M (in Finnish). Retrieved 2019-10-02.
  40. ^ M&M. "Fiskars luovuttaa Suomelle puiston 100 vuodeksi yhden euron vuosivuokralla". M&M (in Finnish). Retrieved 2019-10-02.
  41. ^ Palmén, Joanna. "Kipot kiertoon! Iittala aloittaa second hand -bisneksen – ostaa ja myy vanhoja Iittalan ja Arabian astioita liikkeissään". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-10-02.
  42. ^ "Iittala laajentaa astioiden kierrätyspalvelua – rikkinäiset astiat hyödynnetään rakennusteollisuudessa". Maaseudun Tulevaisuus (in Finnish). Retrieved 2019-10-02.

External links[edit]