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Fiskars

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This article is about the company. For the village in which this company was founded, see Fiskars, Finland.
Fiskars Corporation
Company type
Nasdaq Helsinki: FSKRS
IndustryConsumer products
Founded1649; 375 years ago (1649)
Headquarters
Helsinki
,
Finland
Key people
  • Paul Ehrnrooth (Chairman)
  • Teemu Kangas-Kärki (Interim President and CEO)
  • Jaana Tuominen (appointed President and CEO as of January 1, 2018 the latest)
  • Sari Pohjonen (CFO)
ProductsScissors, gardening tools, kitchenware, glassware, ceramics, knives, outdoor equipment
Revenue
  • Increase €1.205 billion (2016)
  • €1.105 billion (2015)
  • Increase €83 million (2016)
  • €47 million (2015)
  • Decrease €64 million (2016)
  • €85 million (2015)
Total assets
  • Decrease €1.760 billion (2016)
  • €1.833 billion (2015)
Total equity
  • Increase €1.218 billion (2016)
  • €1.191 billion (2015)
Number of employees
8,560 (31.12.2016)[1]
SubsidiariesIittala Group
Gerber Legendary Blades
Fiskars
Waterford Crystal
Wedgwood
Royal Doulton
Rörstrand
Websitewww.fiskars.fi
www.fiskarsgroup.com
Footnotes / references
[1][2]

The Fiskars Corporation (Fiskars Oyj Abp) is a consumer goods company founded in 1649 in Fiskars Village (Finnish: Fiskarsin Ruukki), a locality now in the town of Raseborg, Finland, about 100 kilometres (62 mi) west of Helsinki. Fiskars' global headquarters are located in the Arabianranta district of Helsinki, Finland.

Fiskars is best known for its orange-handled scissors, created in 1967. The company operates as an integrated consumer goods company and has two strategic business units: SBU Living and SBU Functional.[3]

History

Scissors with ergonomic orange plastic handles, manufactured since 1967, the best-known product by Fiskars

The Fiskars Corporation was formed in 1649 when a Dutch merchant named Peter Thorwöste was given by Christina, Queen of Sweden a charter to establish a blast furnace and forging operation in the small village of Fiskars; however he was not permitted to produce canons.[4] Making it the oldest privately owned company in Finland[5]. 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 however, by the nineteenth century there was little copper left in Orijärvi.[6]

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.

In 1915 Fiskars was listed at Helsinki Stock Exchange. In September 2015, Fiskars celebrated 100 years of being listed on the Nasdaq Helsinki Stock Exchange along with Nokia, Wärtsilä and UPM.[6]

Fiskars is perhaps best known for its scissors and their distinct orange colored handles. The first pair was manufactured in 1967 and had prototypes with handles in black, red, green and orange. After an internal vote at Fiskars, the orange color was chosen. That same orange color, Fiskars Orange, was officially registered as a trademark in Finland in 2003 and in the US in 2007.[6] In 1977, Fiskars founded a scissors factory in the United States to provide a basis for international trade and further expansion.

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

In 2007 Fiskars acquired both Iittala[7] and Leborgne[8] which strengthened the company's position in the kitchenware and table top categories as well as the garden tools business. The acquisition of Royal Copenhagen in 2013 complemented Fiskars tableware offering with hand-painted porcelain and strengthened the company in the Nordic countries and in Asia. In 2015, Fiskars acquired the WWRD group of companies (WWRD)[9] and its portfolio of luxury home and lifestyle brands, which include Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška.

Today

Military entrenching tool manufactured by Fiskars for the US Marines

Fiskars Corporation is made up of two strategic business units: SBU Living and SBU Functional. Fiskars’ three primary reporting segments are Living, Functional and Other. Fiskars' Other-segment contains the Group’s investment portfolio, the real estate unit, corporate headquarters and shared services. In addition, Fiskars reports group-level net sales for three secondary reporting segments: Americas, Europe and Asia-Pacific.[10]

SBU Functional creates tools for use in and around the house and outdoors under brands such as Fiskars, Gerber, Gilmour and Leborgne. SBU Living offers a wide range of products for tabletop, giftware and interior décor under brands such as Iittala, Wedgwood, Waterford, Royal Copenhagen, Arabia, Rörstrand, Royal Doulton and Royal Albert.

Fiskars’ products are available in more than 100 countries and after the acquisition of WWRD, the company employs around 8,600 people in over 30 countries.[9]

Fiskars headquarters are located in Fiskars Campus in the Arabianranta district of Helsinki, Finland.

Brands and products

File:Vase ALVAR AALTO.JPG
Aalto Vase by Iittala

According to the Fiskars Group, its key international brands are:

Other notable brands:

Financial

In 2015, 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.[11]

In 2016, 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.[1]

References

  1. ^ a b c "Fiskars Group Annual Report 2016" (PDF). Fiskars Group. Retrieved 18 November 2017.
  2. ^ "FSKRS, Fiskars Oyj Abp, (FI0009000400)". NASDAQ. Retrieved 18 November 2017.
  3. ^ "Highlights 2016 - Fiskars". Fiskars. Retrieved 2017-03-20.
  4. ^ "Fiskars Village History". Retrieved 2017-11-19.
  5. ^ G. Kock. "Suomen vanhimmat yritykset listattu". www.porssitieto.fi. Retrieved 2017-11-11.
  6. ^ a b c "Fiskars 1649 - 365 years of Finnish Industrial History" (PDF). www.fiskarsgroup.com. Fiskars Oyj Abp. 2009. Retrieved 2017-01-10.
  7. ^ "FISKARS ACQUIRES IITTALA GROUP | Fiskars Corporation". www.fiskarsgroup.com. 2007-06-29. Retrieved 2017-01-10.
  8. ^ "FISKARS ACQUISITION OF LEBORGNE FINALIZED | Fiskars Corporation". www.fiskarsgroup.com. 2007-05-21. Retrieved 2017-01-10.
  9. ^ a b "Fiskars Corporation acquires the renowned WWRD and extends its portfolio with iconic luxury home and lifestyle brands | Fiskars Corporation". www.fiskarsgroup.com. 2015-05-11. Retrieved 2017-01-10.
  10. ^ "Introducing Fiskars | Fiskars Corporation". www.fiskarsgroup.com. Retrieved 2017-01-10.
  11. ^ "Fiskars Annual Report 2015" (PDF). Fiskars Corporation. Retrieved 2017-01-10.
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