Danish design icon Georg Jensen faces major loss

Georg Jensen, the renowned Danish design company, reported a significant loss of 80 million kroner for 2023, contrary to the profitable preceding years with 67 million kroner in 2021 and 167 million kroner in 2022, reports Finans. The company’s turnover decreased from 811 million kroner in the previous year to 684 million kroner. According to management, high living costs affected consumer demand and sales throughout the year. Georg Jensen, established in 1904 and known for jewelry, silverware, and home goods, experienced losses before, particularly in the late 2010s. The company distributes products globally through 2050 dealers and has 28 stores, employing nearly 1200 people. Finland’s oldest company, Fiskars, known for kitchen and garden products, acquired Georg Jensen last year.