The furniture and decor company Veke, based in Ranua, Finland, has seen significant growth, achieving a revenue increase of 32% and a profit of around four million euros last year.
Veke, a family-run furniture and decor business located in Ranua, Finland, has experienced remarkable success, dispatching hundreds of packages daily across the country. In the last year, the company achieved a revenue of 56.6 million euros, marking a staggering 32% increase from the previous year, and generating approximately four million euros in operating profit.
According to Walter Ihander, director of the Finnish Furniture Retail Association, Veke has effectively focused on the right areas in response to changing consumer behaviors, particularly the growing trend of online shopping. The company adapted to this shift by enhancing its online presence while maintaining a manageable number of physical stores to complement its e-commerce operations. Ihander highlights that the generational transition in the business has allowed Veke to pursue smarter growth strategies through its online platform.
Founded in the mid-1990s by Veijo Ranua, the company has now been taken over by his sons, Markus, Miikka, Matias, and other siblings, who have continued to build on their father’s legacy. The transition in leadership seems to have coincided with Veke’s expansion into the online market, proving to be a successful strategy that defied initial skepticism regarding the viability of an online furniture store.
