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18 October 2010

erik bagger steps up

erik bagger steps up its business operations and launches a new growth strategy focused on innovation and designs

  • erik bagger a/s aims to become a leading Danish house of design
  • erik bagger a/s’ capital is secured through the M. Goldschmidt Holding Group, the new principal shareholder with a 70% stake

New strategy

The board of directors of erik bagger a/s has adopted a new strategy plan for the company and secured the capital to implement this strategy immediately. The strategy is based on the erik bagger brand maintaining growth momentum and enjoying growing recognition among consumers and on the fact that the company’s potential has not yet been fully exploited – neither in Denmark nor abroad.

The new strategy aims to generate substantial revenue and earnings growth over the next three years on the basis of innovation and designs produced by Erik Bagger and other esteemed designers. Moreover, the company aims to significantly increase its exporting activities. The anchor point of the new strategy is a very significant increase in business activity based on these and other main elements:

  • A plan for new products and product categories for the next three years;
  • Efficiency enhancements, professionalization and quality control;
  • Affiliation of more professional designers; and
  • Expansion of the company’s exports.

Erik Bagger has resigned as a member of the day-to-day management. The company’s management now consists of Frederik Brønnum (managing director), who is in charge of sales, production and procurement, and Ib Berntsen, who is in charge of finance, administration and logistics.

The company’s board of directors will be strengthened through the appointment of a non-executive board member with special exports know-how.

Managing director Frederik Brønnum: “The new strategy plan combined with the new ownership and management structure and enhanced capital strength provides erik bagger a/s with optimum opportunities for creating a leading Danish house of design. Novelties and classics will be developed in collaboration with Erik Bagger and other esteemed designers, and over the next three years we expect to create strong results in the form of revenue growth and solid earnings for the company.”

New principal shareholder

The board of directors has secured funding for the strategy from the company’s principal shareholder, M. Goldschmidt Holding A/S, which, through its subsidiary M. Goldschmidt Capital A/S, now holds 70% of the company. This makes erik bagger a/s a subsidiary of the M. Goldschmidt Holding Group.

Erik Bagger and Frederik Brønnum respectively hold 20% and 10% stakes in the company.

erik bagger as is a portfolio company under M. Goldschmidt Capital. Click here to read more

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