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Georg Jensen represents quality

craftsmanship and timeless aesthetic

design, from hollowware to watches,

jewellery and home products.

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ABOUT THE COMPANY

Georg Jensen was founded in 1904, the year in which silversmith and sculptor Georg Jensen

(1866-1935) opened his Copenhagen workshop. At first, his only display was a small wooden

cupboard on the wall outside his workshop. His jewellery, cutlery and hollowware designs

received attention in Denmark and abroad and became something of on overnight success. By

the time of Georg Jensens death, in 1935, his small workshop had developed into an

international company with shops in Paris, London, Berlin and New York.1

With more than 100 years of tradition and experience behind it, today Georg Jensen is

recognized for its unique Danish design language, outstanding craftsmanship and superior

quality. 1

Having taken ownership of the

Scandinavian Luxury Lifestyle

positioning and aiming to be the

preferred destination for gifts, Georg

Jensen offers the best in Danish design

and a wide range of products. Segments

include Hollowware & Silver, Jewellery,

Watches, Living and Seasonal with an

overarching emphasis on gifts. 1

VISION, MISSION AND VALUES

Georg Jensen has a clear vision. It will globally take ownership of the Scandinavian Luxury

Lifestyle position and become the preferred gift destination for this segment. Based on its

values, heritage and tradition for craftsmanship, quality and the Danish design legacy, it has a

strong and authentic platform for building one global brand for a broader luxury audience.2

Vision : Georg Jensens vision is to offer the Scandinavian Luxury Lifestyle

Universe to the design conscious consumer and to claim the position as the

worlds leading Scandinavian Luxury Lifestyle Brand.2

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Mission : To enthuse, surprise and inspire the

global, design conscious consumers

through its unique, timeless designs and

tradition for high quality and

craftsmanship.2

Values : Based on the unique heritage of

craftsmanship and continuous design

innovation our key values are integrity,

authenticity and superior quality.2

BUSINESS MODEL

Business model for the five product categories is set out in Figure 1 below.2

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CORPORATE STRATEGY

(a) 2007 Roadmap

In 2007, Georg Jensen has formulated its roadmap to make Georg Jensen the leading

Scandinavian Luxury Lifestyle Brand. This is still the case. It wants to create one brand,

building a common global identity around the different products and categories.3

Key to the success on the on-going journey has been to take ownership of the position as the

leading Scandinavian Luxury Lifestyle Brand and to be the preferred gift destination for the

global design conscious consumer. Working strategically with wider price points, a more

dynamic and edgy brand identity and assuring consistency throughout all consumer touch

points have enabled Georg Jensen to attract a broader luxury

audience.3

The strategy in the 2007 Roadmap was built on four key

pillars:3

Leverage the brand

Retailed growth

Underpenetrated markets and channels

Operational Excellence

(b) 2011 Roadmap to Sales Excellence

To bring Georg Jensen to the next level, the overall strategy was revisited in 2011. It was

concluded that Georg Jensen should be evolved into a true sales driven organization and by

that further drive the top line. The Roadmap to Sales Excellence is considered an important

steering tool for Georg Jensen going forward which defines the five Must Win Battles.

Each of them will give us the best return investing time, money and resources whilst

contributing to growing top and bottom lines.3

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CORPORATE STRATEGY (CONT)

The Five Must Win Battles3

1 Scandinavian Living & Watches international breakthrough

To duplicate the documented successes within the Jewellery business and take ownership of the Scandinavian Luxury Lifestyle Brand position and by that improve

financial performance.

2 Retail Excellence

To continue to improve the retail sales excellence by increasing performance of existing stores, optimizing retail network and enhancing customer relationship.

3 Wholesale/Franchise/Joint Ventures conceptualization and growth

To develop the business by partnerships within wholesale, franchise and joint ventures. These partnerships will work as an international growth lever while keeping brand

control.

4 Online Excellence

To build a more solid day-to-day operation and to implement clear KPIs as well as improve systematic online tracking and performance and flawless execution.

5 Focus Markets

To invest resources and money in the 11 selected focus markets in order to get the highest return.

THE PRODUCTS

Georg Jensen produces Danish design products within the categories of Jewellery, Watches,

Living, Silverware, and Seasonal.

JJEEWWEELLLLEERRYY WWAATTCCHHEESS LLIIVVIINNGG SSIILLVVEERRWWAARREE SSEEAASSOONNAALL

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KEY FINANCIAL HIGHLIGHTS FOR 20113

In 2011, Georg Jensens net turnover totaled DKK914m with an EBITDA of DKK65m.

George Jensen is a 99% owned subsidiary of Royal Scandinavia A/S, which is owned by

RS Invest owned by Axcel, FIH, Maj Invest and PKA.

On 31 December 2011, Georg Jensen employed 1,195 people.

Georg Jensens production facilities are located at its headquarters in Copenhagen

(Denmark), Hjorring (Denmark) and Chiang Mai (Thailand). Georg Jensen also used third

party vendors in Europe and South East Asia.

Georg Jensen has 106 points of sales in 15 countries in Europe, the U.S., the iddle East and

South East Asia.

-200 -100

0 100 200 300 400 500 600 700 800 900

1000

2008 2009 2010 2011

Figure 2: Net Revenue and EBITDA

Net revenue (DKK) EBITDA (DKK)

Asia-pacific 42%

Scandinavia 42%

Continental Europe

10%

North America 6%

Figure 3: Net Revenue by Region

Jewellery 50%

Living 26%

Watches 10%

Seasonal 7%

Other 4%

Silverware 3%

Figure 4: Net Revenue by Product Category

Retail, 57%

Wholesale, 32%

B2B & Travel Retail, 7%

E-Commerce, 2% Other, 2%

Figure 5: Net Revenue by Sales Channel

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LATEST DEVELOPMENT

In April 2012, Georg Jensen introduced the new Home Concept which is another step in the

journey to reposition Georg Jensen by taking ownership of the position as the leading Danish

luxury lifestyle brand.

In Scandinavia, the way of living is centred

around their homes. Danes always make an

effort to decorate their homes as they spend a

lot of time with their families and

entertaining friends in an informal and

relaxed manner. The new Home Concept

taps into these values and so does its global

retail store concept which has been designed

to represent a luxurious Danish home.

Strategically, the Home Concept gives Georg Jensen a wider platform for innovative design,

which is crucial for developing the business.4

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Reference

1 Georg Jensen Annual Report 2010

2 Website of Georg Jensen, www.georgjensen.com/global/home

3 Georg Jensen Annual Report 2011

4 Georg Jensen press release April 2012

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