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Reform Furniture receives funding of €10m

05.02.2021 − 

Danish Reform Furniture has received financing of €10m from state investment fund Vaekstfonden. According to the company, the investment is connected with a 10-15% acquisition of shares. The remaining Reform shares continue to be held by the two company founders, Michael Andersen and Jeppe Christensen.

The funds are to be invested into projects such as expanding the brick-and-mortar showroom network. Above all, company presence in the DACH region and the USA is to be expanded. New locations will also be added in the Netherlands, France and Great Britain, however. The company, founded in 2014, opened its fourth German showroom in Munich in September, after having added a location in Hamburg as recently as June. There are also another two studios in Germany, in Berlin and Cologne.

According to provisional figures, Reform concluded the 2020 financial year with turnover of €14m. Compared to the €10m generated in 2019, this corresponds to an increase of 40%. This growth is nevertheless lower than originally expected.

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