Embellence Group
Embellence Group AB is a Swedish interior-decoration group founded in 1905, built around premium wallpaper brands and complementary products such as textiles, rugs and other pattern-driven home furnishings. The group operates through two segments, Brands and Manufacturing, with a portfolio that includes Boråstapeter, Cole & Son, Wall&decò, Pappelina, Artscape and the Borås Tapetfabrik.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenuePremium wallpaper collections and related wall decoration products sold under the group's brands.
Complementary interior decoration products including textiles and rugs.
Brand-driven interior decoration offerings built around design, heritage and collections.
Production of wallpaper and related items through Borås Tapetfabrik for the group.
Customers
Embellence Group sells to customers in more than 100 markets, so its buyer base spans both consumer-facing and trade channels. Demand comes from customers seeking premium, design-led interior decoration products with strong brand identity, especially in wallpaper and coordinated home décor.
Buy wallpaper, textiles and rugs for home decoration and renovation projects.
Select premium collections for residential and hospitality projects.
Purchase branded interior decoration products for resale in local markets.
Stock wallpaper and complementary décor products for consumer sale.
Use design-led products in larger renovation and fit-out applications.
Strategy
Embellence Group's strategy centers on organic growth, brand building, product innovation and expansion in selected geographies and channels. The group also emphasizes synergy capture and strategic acquisitions, supported by a decentralized organization and a strong balance sheet.
Premium brands and design-led products are the core engine of long-term value creation.
Differentiated design and brand heritage support pricing power and customer loyalty.
Broader distribution reduces dependence on any single market or channel.
Add brands and capabilities that strengthen the group portfolio and operating model.
Geography
The group is headquartered in Borås, Sweden and operates with a European base while selling into more than 100 markets worldwide. Its business is therefore shaped by broad international demand, with exposure to multiple currencies, trade conditions and regional consumer cycles.
Risks
The business is exposed to demand swings in consumer and project markets, as well as to changes in customer preferences, competition and macroeconomic conditions. It also faces currency, tariff and inflation exposure because products are sold internationally and sourced/produced across different markets.
- Cyclical demand in home decorationImpact: HighLikelihood: High
Wallpaper and décor purchases are discretionary and tied to renovation and consumer confidence.
Exposure: Retail and project markets
- Product and design relevanceImpact: HighLikelihood: High
The group competes on style, quality and brand appeal, so weak collections can reduce sales.
Exposure: Brand portfolio
- Foreign exchange and trade exposureImpact: MediumLikelihood: High
Sales in more than 100 markets create translation and transaction risk, while tariffs can affect costs.
Exposure: International sales and sourcing
- Customer credit and payment riskImpact: Medium
A broad distributor and retail base can create collection risk in weaker markets.
Exposure: Trade receivables
Accounting
Judgemental itemsThe first and fourth quarters are normally slightly stronger, affecting quarterly trend analysis.
Impact: Revenue and profitability comparisons across quarters
Restructuring, listing, acquisition and divestment costs can distort reported earnings.
Impact: Underlying profitability and adjusted performance
Lease liabilities are included in net debt and affect leverage measures.
Impact: Balance sheet leverage and covenant-style metrics
The group owns brand and acquisition-related intangibles that require periodic impairment testing.
Impact: Reported equity and operating results
Organic growth excludes acquired/divested operations and currency effects.
Impact: Assessment of underlying demand trends
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Last updated: 24/09/2026