Harvia to boost sales in Japan by establishing a joint ventureSource: OMX
Press release 7 March 2023
Harvia to boost sales in Japan by establishing a joint venture
Harvia Plc and Bergman Ltd have signed a letter of intent (LOI) on 7 March 2023 to create a joint venture in Japan with the mission to becoming a substantial local player in the attractive and growing Japanese sauna and spa market. Harvia will own 51% and Bergman 49% of the company.
The joint venture will focus on sales and marketing of Harvia’s sauna and spa offering on the Japanese market, and it is planned to be operational later this year.
Harvia signed an exclusive distribution agreement with Bergman Ltd, of Tokyo, Japan on 12 October 2021 to build awareness and demand for Harvia’s sauna and spa offering in Japan among both commercial and consumer customers. During the first 12 months of operations, Bergman increased presence with over 20 local representatives and opened a total of 15 showrooms in the market, with 7 more under way. In 2023, the plan is to increase the number of Harvia Sauna & Spa showrooms in Japan to a total of over 40.
“Our strategic partnership with Bergman has proven to be successful. We have been able to expand our presence in the Japanese sauna and spa market and sales have developed very favorably. The joint venture will further boost our activity in Japan and our aim is to become the number one sauna brand in Japan in the long run,” says Tapio Pajuharju, CEO of Harvia Plc.
“We are most pleased to deepen our co-operation with Harvia through the joint venture to be established. The sauna culture in Japan is enjoying a boom, and I am confident that our systematic activities with Harvia will help us to grow together to be the number one brand in both in residential and commercial sauna needs. Harvia already has a presence in major cities such as Tokyo, Osaka, Nagoya and Sapporo – and the presence is growing rapidly,” says Seiji Kasama, CEO of Bergman Ltd.
Bergman has more than 20 years of experience in marketing and selling branded European heating devices in Japan. The company has strong engineering and technical knowledge in design, installation, and after-sales services.
For more information, please contact:
Tapio Pajuharju, CEO, tel. +358 50 5774 200
Ari Vesterinen, CFO, tel. +358 40 5050 440
Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market of both private and professional customers.
Harvia’s revenue totaled EUR 172.4 million in 2022. Harvia Group employs more than 600 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany and Estonia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.
Read more: https://harviagroup.com