[ad_1]
After several difficult years for the Høyer clothing chain, they have attracted a large foreign investor. Now it will have a turnover of 1.7 billion by 2025.
The new accounts from the Høyer clothing chain weren’t a happy read for the chain. With a deficit of NKr 7.6 million, the investment in the clothing chain’s online store and its own clothing collection has yet to bear fruit.
But now the company has joined the giant company Nordic Kollektiv Investments, which has invested NOK 40 million in the company. This will give the company the opportunity to make significant investments in the years to come.
– Høyer is the market leader in the luxury segment and will dominate this market in the future, the company writes in a press release.
Read more: Høyer defies deaths in stores: will double the number of stores
14 new stores
In order to invest more and gain new market shares, the company will open new physical stores and invest heavily in online purchases.
President Ørnulf Høyer tells Nettavisen that 14 new physical stores will open and that the majority will be franchises.
– The Høyer physical stores in our franchise chain are expected to increase from 31 to 45 and have sales of approximately NOK 820 million, compared to NOK 600 million today, Ørnulf Høyer tells Nettavisen.
HØYER: Ørnulf Høyer will challenge store deaths in recent years and establish 14 new physical stores. With an investment in online shopping, it will lead to strong chain growth.
Photo: Paul Weaver
Furthermore, Høyer expects large investments in its own clothing collections to result in strong revenue growth.
– In addition, we expect to sell for NOK 200 million of our own brands to our own stores and other independent stores. In addition to this, the goal is to double the current turnover of the agency from 70 to 110 million crowns, he says.
Read more: Strong fall for Høyer
Hairy goals
The largest increase is expected to come from online stores and own collections, where the investor has decided to invest the money.
According to the press release, Høyer wants to raise an additional NOK 100 million from investors to continue growth.
In total, the Høyer chain’s ambition is to be able to generate NOK 1.7 billion by 2025.
An important part of the investment will come from artificial intelligence and technology for e-commerce.
– Høyer will adapt the shopping experience through technology, artificial intelligence and personalization, he says.
[ad_2]
