THE One's Thomas Lundgren: Part 1

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UAE

Swedish furniture tycoon, Thomas Lundgren,  set up THE One over a decade ago. During the UAE's five-year property boom the chain of furniture stores was hugely successful but Lundgren has struggled to maintain sales amid the downturn.

 

Revenues declined 18 percent to $96m for the year to March 2010 with sales plunging 40 percent last February alone. More than 100 staff have been let go in the past 12 months.

 

AB TV talks to Lundgren about what went wrong.

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Posted by: Nagaraju R

The profit decline is purely recession in US & Europe. However, It will bounce back after after June 2012. Once Greek Economic debt bailout from its member of Euro.

Secondly, Thomas Lundgren can improve the sales by adding other production connecting with furniture; i.e. he must introduces soft furnishing such as curtains, cushion / pillows and quilted bed spreads / duvet covers and fabrics as well. There is huge demand for these soft furnishing in UAE, Arab world plus CIS countries.
I am sure Thomas Lundgren will bounce back shortly.

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