Wednesday, March 24, 2021
Hettich happily announces positive growth despite pandemic challenges and achieved good business of € 1.1 billion turnover in 2020. Worldwide, Hettich invested € 72 million in new products, buildings and machinery. Despite coronavirus pandemic and global economic uncertainties – the Hettich Group brought a challenging 2020 to a successful close too. In the 2nd quarter of 2020, sales initially took a sharp dip in the wake of global lockdowns and retailers forced to close. New trends, in contrast, defined the second six months: home improvements, greater DIY activity, more home working as well as the rediscovered home kitchen ambience left Hettich on a high in the second half. China’s economy was particularly quick to recover from the pandemic.
Sascha Gross, Managing Director Hettich Holding, explains: “Despite furlough, lockdowns in many countries and delayed impacts on supply chains – our primary aim was always to maintain deliveries to our customers in the manner to which they are accustomed”. Managing Director colleague Jana Schönfeld, Hettich Holding, adds: “Tremendous dedication and commitment on the part of the global Hettich team put us in great stead to ride out the volatile business environment we were seeing last year. We are so grateful to all colleagues and share a sense of pride in what we have achieved.”
Home improvements and home working as the driving forces
Purchasing behaviour changed in 2020. In times of economic uncertainty, consumers plan their purchases more consciously and, in many countries, pay more attention to high product quality. With home living and working worlds merging all the time, the industry is now called upon to come up with new ideas for furnishing and furniture concepts.
Tags: Covid-19, Hettich Group, pandemic, woodworking and manufacturing, woodworking industry, woodworking tools
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