The Finnish electronics retailer, Power, is set to open its largest store in Tammisto, Vantaa in June. This new location will cover over 6,000 square meters and will employ around 50-60 people. The company is positioning this store as their flagship location, offering a broader range of products and immersive experiences for customers.
As part of this expansion, Power’s headquarters and warehouse will also be housed in the Tammisto building. However, amidst this growth, the company is also facing negotiations that could impact its entire workforce. These discussions are taking place due to declining sales of home electronics across the industry.
Power CEO Juha-Mikko Saviluoto stated that while the decision to open the new store has been in the works for three years, the change negotiations are a response to the company’s profitability challenges this year. These talks involve all 880 employees in Finland, with potential significant changes in employment for 245 workers.
Although Saviluoto has not confirmed any store closures beyond these negotiations, Power aims to increase market share and revitalize sales in the home electronics sector. The CEO remains optimistic about the future of the industry and believes that physical stores are crucial for success despite increased online shopping during the pandemic.
In summary, Power is navigating a period of both growth and challenges as it seeks to adapt to market dynamics and maintain its position within the competitive electronics industry.
