“Since the final quarter of 2008, we had clear signs that we are preparing for a hard landing. The office furniture market fell to €55-60 million from €87-90 million in 2008, meaning it has returned to its 2004-2005 level,” Bogdan Staicu, Chief Executive Officer of Mobexpert Office, local market leader, told Business Standard.
This decline is not only in terms of quantity but also in terms of quality, given that the orders in the medium and high price sector have disappeared. “The market is half of what it was last year, from our point of view. The decline nears 50 percent, with the market now at some €40 million,” said Liviu Souca, General Manager of Hansen, office furniture importer.
In 2009, companies opted to keep the existing furniture and repair it rather than investing in new furniture. “This year, the price became the main argument for acquisitions, something we have not observed since 2002,” indicated Staicu.
Small-sized enterprises maintained their investments, but large players postponed all projects for relocation or furnishing. “Large companies are more affected, while small ones adjust more easily,” said Souca.
