The sales have increased by double digits in the last three months after a period of declining revenue from 4.5 to 3.9 billion kronor in two years.
“We have had a good and strong November and Black Week. This year, the last two days of Black Week were in December. But if we adjust them in November to make November comparable to previous years, we have had our best November ever,” says Mio’s CEO Björn Lindblad.
Mio is seeing increased activity in both physical and digital stores.
“The moving carousel is starting to spin when more properties are being sold. This is favorable for us,” notes the CEO, who believes the company has every reason to look positively towards 2025.
“We have weathered this rather tough period in the last two years and prepared ourselves to be ready when the tide turns. Now we are hoisting the sails when we feel there is more wind in the market,” he tells Di.
Among other things, Mio plans to restructure the franchise chain with 73 stores, aiming to convert the business into a collectively owned company.
“Initially, we will transform several Mio stores into one Mio. This creates different opportunities going forward in terms of ownership, where the stock exchange is an option,” says Lindblad.
The increase in sales and strategic restructuring efforts indicate a promising future for Mio as they adapt to market conditions and position themselves for growth. The company’s proactive approach to challenges and opportunities sets a solid foundation for continued success in the furniture retail industry. With a strong leadership team and a clear vision for the future, Mio is poised to thrive in the years to come.