In a struggling kitchen industry, a Copenhagen based kitchen manufacturer has defied expectations with a strong comeback after bankruptcy.
© Stillark
The kitchen manufacturer, Stillark, was taken over by Søren Overgaard in late 2022, and posted a pre-tax profit of 1.8 million DKK in 2024 and expects over 50% growth this year.
Overgaard, with nearly 40 years of industry experience, acquired 70% of Stillark after it collapsed under 7.7 million DKK in debt. Co-founder Ditlev Rahbek retained a 30% stake until his exit in 2024.
Despite a broader market slowdown following the pandemic renovation boom, Stillark has flourished by overhauling its supply chain, cutting costs, and improving product quality and delivery times. Overgaard stated: 'We changed all suppliers, significantly improved quality, reduced delivery time and got control of the supply chain.'
Stillark operates with a small team, including trained architects who offer tailored design solutions. The company relies on social media and word-of-mouth, rather than paid advertising, attracting a loyal customer base and nearly 40,000 Instagram followers.
Rahbek's departure was amicable, with the entrepreneur noting that he wished to focus more on design and sales. He described his journey as 'the CBS course of a lifetime'.
Source: www.wood-supply.dk