Hafele's sales in 2019 grew 7.6% year-on-year to 2 trillion KRW
Hafele, a global furniture and architectural hardware company, recorded its sales increase 7.6% year-on-year in 2019 based on financial reports. Sales are 1.5 billion euros, about 2 trillion won. This is a relatively big achievement given the recent global economic downturn caused by the Corona19.
Hafele's latest achievement has been backed by the growth of 38 overseas branches. Its German headquarters and five European production plants grew 3.3 percent in 2019, and based on strong growth rates in Asia and Eastern Europe alone, it posted an 8.8 percent rise in sales.
It also acquired Nimbus, a Stuttgart-based LED company, and added expertise to household LED lighting, becoming a pioneer in leading the smart home market from a brand with hardware technology. Hafele own 100 percent of the German headquarters' subsidiaries in 38 countries around the world, accounting for 80 percent of their total revenue.
Global Hafele Group is preparing for another growth in 2020 based on its expertise in product development and logistics due to new technologies. The move is drawing keen attention as the Corona has taken a new turn.