THE MARKET ACHlEVEMENTS HlSTORY
T he M a r k e t
A chie v e me n t s
The interest in Sweden for home furnishings is huge. The home is for most people the most important place and is a high priority. A majority of Swedes live in small houses. In small and medium-sized cities, housing in villa dominates. The state has historically contributed in different ways with financial assistance for housing construction. In recent years it has been reinforced with a tax deduction for all who invest in or on retrofit of their home. Likewise, the evolution of prices of villas and apartments has been very favorable. Households have increased their wealth and many have chosen to invest further in their homes. This has benefited the construction industry, but also the home furnishings trade. Various consumer surveys show that interest in home furnishings persists. Studies that ask about possible areas to spend money on, place the home high up along with travel. Mio is one of two very strong brands of furniture and home furnishings. With 60 stores throughout Sweden and Åland, Mio is available for large groups of consumers. It is the best dispersed home furnishings chain from a geographical point of view. Mio is associated with a wide assortment of affordable quality, great choice and inspiration. Mio is seen as an exciting alternative on a highly competitive market. The vision is to inspire customers to renew their homes. The customer’s needs and preferences are always the focus of Mio’s employees, no matter what role they have in the chain. Mio provides a kind reception and an assortment that many people want.
Mio has emerged through collaboration between many smaller furniture retailers. Today, Mio operates as a franchise chain which is owned jointly by Mio’s merchants. The entrepreneurial spirit is strong. The pride of belonging, and in many cases having contributed to build up, a nationwide chain with a successful brand, is significant and a key driver for development. The business model means that local involvement is combined with the opportunities of the large company. This has been crucial for the success and achievements. From the 1980s to the first half of the 2000s not only sales increased sharply, but also the number of stores, among other through acquisitions. Today, Mio sells furniture and home furnishings for over two billion kronor every year. Mio has a very high confidence among consumers. Mio is a chain of stores which many rely on and expect a great deal of. This is also reflected in the industry, in that Mio is attractive to entrepreneurs who want to invest in the highly attractive home furnishings market.
6 6 s u p e r b r a n d s
His t ory The foundation for today’s successful Mio was laid already in the early 1960s. In southern Sweden and the Stockholm area a number of enterprising furniture dealers had joined forces in so-called buyer associations. In 1962, these two buyer associations merged together to form Mio. The aim was to further drive down purchasing prices through higher volumes and a stronger negotiating position.
But the cooperation quickly extended. The 1960s was a decade marked by very strong belief in the future, the consumption rose and an increasing number of Swedish households had the money to buy new furniture. This led to early ideas for joint marketing. Mio as a concept began to be coined by the customers. In 1976, Mio moved its headquarters and warehouse to Tibro. Swedens’s furniture center was considered the place for a chain with ambitions. This is true even today. The 1980s, was Mio’s most expansive period to date. Mio’s stores quickly developed and many built new large department stores to meet customers’ expectations. After the deep recession of the early 1990s, however, the pace of expansion was more cautious.
During the 2000s, today’s Mio began to take shape. The business model was turned into a franchise, and Mio’s central organization was developed for excellence in catalog building, marketing and economics.
T he P roduc t Customers should feel secure in that Mio offers a complete and varied selection of real furniture of affordable quality. Mio’s mission is to be the obvious choice for furniture and home furnishings for the price and quality conscious customer, and always provide a kind reception. The customer comes to Mio because they want to shape a home that they are comfortable in. To find out what customers want and meet their needs is the primary task, ranging from line managers and buyers to salesmen in the store. Likewise, Mio’s service package with delivery and installation assistance to the client is part of the concept of providing a kind reception. With stores throughout Sweden, a wide assortment is required. Mio offers a basic assortment of inspirational quality products at market prices, and a tip line with their own concepts and external brands. By adding external brands with strong luminosity Mio’s profile is reinforced further as a quality chain.
R e ce n t De v e l opme n t s The modern customer places heavy demands on service and availability. Many have to combine little availability of time with the desire for a fresh and relaxing home. Mio therefore puts great emphasis on developing personal service to customers, among other by providing excellence in interior design. The service »Mio Design« means that the client in return for a low cost can receive help to design his/her home. Many customers are preparing before the store visit by reviewing the assortment on Mio’s website. An increasing number of orders also take place via the website, where Mio has developed a clever solution where a deal is made up and delivered by the nearest Mio-shop.
One obvious change is the customer’s buying patterns. Previously, autumn was the furnishings trade really strong season. It is no longer so, when the home is increasingly changing with the seasons. Mio meets this by giving out two catalogs each year. This also involves a smoother workflow in stores that become more attractive places to visit in that news are presented throughout the year. Mio’s entrepreneurs have an important role for Mio’s development. In each case the entrepreneur is celebrated as one of Mio’s most powerful driving forces in conjunction with desire for change and job satisfaction. In the first instance Mio is always looking for a contractor as the owner of each store location, because it provides unbeatable strength in terms of commitment and knowledge of the local market.
M a r k e t ing Mio uses different channels for marketing, television, radio, daily newspapers, weeklies, Internet as well as stores. The major venture each year is the Mio catalog. With two catalogs each year, Mio lives up to customer expectations on innovation and inspiration. Mio’s website is much visited. Large parts of Mio’s assortment is reported on the web. It is also used to attract extra in campaigns, among other via an electronic newsletter which is sent each month to a large number of customers interested in interior design. The web also contains inspiration, tips and tricks to enhance Mio’s profile. The undoubtedly most powerful marketing channel are the stores. Here is where the meeting with the customer takes place and that is what ultimately conveys the image of Mio.
Br a nd Va l ue s Every employee shall at work live up to Mio’s values. Thus giving their contribution so that Mio meets or exceeds customer expectations. In Mio’s leadership, the values form the basis for developing proud associates who enjoy their work.
Mio is characterized by four value words: • Personal. By way of behaving and acting and shaping our customer offering Mio will build and maintain relationships. • Quality. Mio delivers what it promises. Products, services, expertise, securite delivery - everything is permeated by a high quality. • Sense of Style. Furnishing has a lot to do with interest and renewal, which shall be noticed to clients in inspiring stores and personal interior design solutions. • Business acumen. As a leading interior design chain Mio is always working based on the requirement of professionalism and business acumen.
Things you didn't know about MIO • Mio Designer is a unique service among home furnishing chains. The possibility of receiving advice exists both on spot in the shop or at home with the customer. • Mio cooperates with designers and produce their own furniture concept. The concepts are often very successful in terms of sales, which also led to Mio’s products being copied. Examples of their own concepts is Wilma, which was designed by Katrin Kahl and Olof Bratt in collaboration with Mio. Another one is the series Anika Reuterswärd c/o Mio, which is the result of one of Sweden’s most famous designers’ collective experience to create a furniture that fits the entire life. • Mio offers one of the market’s absolute widest assortment of sofas with thousands of opportunities for customers to integrate their personal sofa by choosing among a large number of upholstery, armrests, legs and various sections.
s u p e r b r a n d s 6 7
A chie v e me n t s
The interest in Sweden for home furnishings is huge. The home is for most people the most important place and is a high priority. A majority of Swedes live in small houses. In small and medium-sized cities, housing in villa dominates. The state has historically contributed in different ways with financial assistance for housing construction. In recent years it has been reinforced with a tax deduction for all who invest in or on retrofit of their home. Likewise, the evolution of prices of villas and apartments has been very favorable. Households have increased their wealth and many have chosen to invest further in their homes. This has benefited the construction industry, but also the home furnishings trade. Various consumer surveys show that interest in home furnishings persists. Studies that ask about possible areas to spend money on, place the home high up along with travel. Mio is one of two very strong brands of furniture and home furnishings. With 60 stores throughout Sweden and Åland, Mio is available for large groups of consumers. It is the best dispersed home furnishings chain from a geographical point of view. Mio is associated with a wide assortment of affordable quality, great choice and inspiration. Mio is seen as an exciting alternative on a highly competitive market. The vision is to inspire customers to renew their homes. The customer’s needs and preferences are always the focus of Mio’s employees, no matter what role they have in the chain. Mio provides a kind reception and an assortment that many people want.
Mio has emerged through collaboration between many smaller furniture retailers. Today, Mio operates as a franchise chain which is owned jointly by Mio’s merchants. The entrepreneurial spirit is strong. The pride of belonging, and in many cases having contributed to build up, a nationwide chain with a successful brand, is significant and a key driver for development. The business model means that local involvement is combined with the opportunities of the large company. This has been crucial for the success and achievements. From the 1980s to the first half of the 2000s not only sales increased sharply, but also the number of stores, among other through acquisitions. Today, Mio sells furniture and home furnishings for over two billion kronor every year. Mio has a very high confidence among consumers. Mio is a chain of stores which many rely on and expect a great deal of. This is also reflected in the industry, in that Mio is attractive to entrepreneurs who want to invest in the highly attractive home furnishings market.
6 6 s u p e r b r a n d s
His t ory The foundation for today’s successful Mio was laid already in the early 1960s. In southern Sweden and the Stockholm area a number of enterprising furniture dealers had joined forces in so-called buyer associations. In 1962, these two buyer associations merged together to form Mio. The aim was to further drive down purchasing prices through higher volumes and a stronger negotiating position.
But the cooperation quickly extended. The 1960s was a decade marked by very strong belief in the future, the consumption rose and an increasing number of Swedish households had the money to buy new furniture. This led to early ideas for joint marketing. Mio as a concept began to be coined by the customers. In 1976, Mio moved its headquarters and warehouse to Tibro. Swedens’s furniture center was considered the place for a chain with ambitions. This is true even today. The 1980s, was Mio’s most expansive period to date. Mio’s stores quickly developed and many built new large department stores to meet customers’ expectations. After the deep recession of the early 1990s, however, the pace of expansion was more cautious.
During the 2000s, today’s Mio began to take shape. The business model was turned into a franchise, and Mio’s central organization was developed for excellence in catalog building, marketing and economics.
T he P roduc t Customers should feel secure in that Mio offers a complete and varied selection of real furniture of affordable quality. Mio’s mission is to be the obvious choice for furniture and home furnishings for the price and quality conscious customer, and always provide a kind reception. The customer comes to Mio because they want to shape a home that they are comfortable in. To find out what customers want and meet their needs is the primary task, ranging from line managers and buyers to salesmen in the store. Likewise, Mio’s service package with delivery and installation assistance to the client is part of the concept of providing a kind reception. With stores throughout Sweden, a wide assortment is required. Mio offers a basic assortment of inspirational quality products at market prices, and a tip line with their own concepts and external brands. By adding external brands with strong luminosity Mio’s profile is reinforced further as a quality chain.
R e ce n t De v e l opme n t s The modern customer places heavy demands on service and availability. Many have to combine little availability of time with the desire for a fresh and relaxing home. Mio therefore puts great emphasis on developing personal service to customers, among other by providing excellence in interior design. The service »Mio Design« means that the client in return for a low cost can receive help to design his/her home. Many customers are preparing before the store visit by reviewing the assortment on Mio’s website. An increasing number of orders also take place via the website, where Mio has developed a clever solution where a deal is made up and delivered by the nearest Mio-shop.
One obvious change is the customer’s buying patterns. Previously, autumn was the furnishings trade really strong season. It is no longer so, when the home is increasingly changing with the seasons. Mio meets this by giving out two catalogs each year. This also involves a smoother workflow in stores that become more attractive places to visit in that news are presented throughout the year. Mio’s entrepreneurs have an important role for Mio’s development. In each case the entrepreneur is celebrated as one of Mio’s most powerful driving forces in conjunction with desire for change and job satisfaction. In the first instance Mio is always looking for a contractor as the owner of each store location, because it provides unbeatable strength in terms of commitment and knowledge of the local market.
M a r k e t ing Mio uses different channels for marketing, television, radio, daily newspapers, weeklies, Internet as well as stores. The major venture each year is the Mio catalog. With two catalogs each year, Mio lives up to customer expectations on innovation and inspiration. Mio’s website is much visited. Large parts of Mio’s assortment is reported on the web. It is also used to attract extra in campaigns, among other via an electronic newsletter which is sent each month to a large number of customers interested in interior design. The web also contains inspiration, tips and tricks to enhance Mio’s profile. The undoubtedly most powerful marketing channel are the stores. Here is where the meeting with the customer takes place and that is what ultimately conveys the image of Mio.
Br a nd Va l ue s Every employee shall at work live up to Mio’s values. Thus giving their contribution so that Mio meets or exceeds customer expectations. In Mio’s leadership, the values form the basis for developing proud associates who enjoy their work.
Mio is characterized by four value words: • Personal. By way of behaving and acting and shaping our customer offering Mio will build and maintain relationships. • Quality. Mio delivers what it promises. Products, services, expertise, securite delivery - everything is permeated by a high quality. • Sense of Style. Furnishing has a lot to do with interest and renewal, which shall be noticed to clients in inspiring stores and personal interior design solutions. • Business acumen. As a leading interior design chain Mio is always working based on the requirement of professionalism and business acumen.
Things you didn't know about MIO • Mio Designer is a unique service among home furnishing chains. The possibility of receiving advice exists both on spot in the shop or at home with the customer. • Mio cooperates with designers and produce their own furniture concept. The concepts are often very successful in terms of sales, which also led to Mio’s products being copied. Examples of their own concepts is Wilma, which was designed by Katrin Kahl and Olof Bratt in collaboration with Mio. Another one is the series Anika Reuterswärd c/o Mio, which is the result of one of Sweden’s most famous designers’ collective experience to create a furniture that fits the entire life. • Mio offers one of the market’s absolute widest assortment of sofas with thousands of opportunities for customers to integrate their personal sofa by choosing among a large number of upholstery, armrests, legs and various sections.
s u p e r b r a n d s 6 7
