THE One's Thomas Lundgren: Part 1

Get Adobe Flash player
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.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

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.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Most Discussed
This Week's Magazine »

Cover Story 2

The fragile finances of Formula One
By this time next year, five of the current 11 Formula One teams will probably be out of business. It’s now not a question of if it will happen but merely when it will happen. Marussia and Caterham have already gone and the Sauber, Lotus and Force India teams seem ready to join them. So in 12 months time there could be just six teams left on the grid, all forced to run three-car teams to maintain the semblance of a show. That is the harsh truth that spells out the finances of Formula One today.

Also in this issue

Subscribe Now