Søstrene Grene posts record sales growth

The Danish homewares retailer posted a record 31% rise in turnover to £314m for the 2024/25 financial year, benefitting from 47 new store openings in the UK and Germany during the year. 

The family-run retailer, which was founded in Aarhus by the Grene family in 1973, increased gross profit from £91m to £111m, while profit before tax reached £23m.

Søstrene Grene said the results were driven by “particularly high performance in the UK”, where it recorded a 130% year-on-year sales increase. 

The retailer, which operates a franchise model, plans to reach a total of 67 openings in 2025 and meet its target of 100 UK stores in 2027.

Søstrene Grene group chief executive and co-owner Mikkel Grene said: “We are proud to announce another record year, with exceptional top-line growth and a solid result despite major investments and structural changes. The UK has been a major growth driver, and the warm response from British customers has exceeded expectations. Our record-breaking Christmas season was also a key contributor to the results, underlining the growing loyalty of our customer base.”

Included among the retailer’s investments are £11m in a new SAP system, £12.8m for robotics and equipment at a new logistics centre in the Netherlands and over £37m in future logistics investments

Mikkel Grene added: “These are major commitments to the future of Søstrene Grene. We are building the foundation for the next stage of growth where we must accelerate business development and seize new opportunities so we are prepared to meet the needs of future customers.”

The retailer said in a statement that it expects turnover to grow by 20%-30% in 2025/26, with profit before tax in the range of £23m-£25m. Total store turnover, including franchise operations and VAT, is expected to £473m this year.