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🇩🇪 Germany /Economy & Trade

Meissen Porcelain Maker Seeks Stability in a Difficult Market

From Die Zeit · () German

Translated from German and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire From a news agency Context piece
  • State Porcelain Manufactory Meissen is pursuing growth while declining to predict when it will return to profitability.
  • The company plans to strengthen its porcelain business, modernize its brand, expand online sales and enter markets including India and the Gulf region.
  • Meissen has faced weak consumer purchasing power, U.S. tariffs, a weaker yen and the loss of the Russian market, following earlier losses and restructuring.

Meissen’s managing director, Tillmann Blaschke, wants the historic porcelain maker to grow, but he is not prepared to say when the company will return to profit.

Speaking on the sidelines of a house fair, Blaschke said economic uncertainty, including the effects of the global situation, made forecasts difficult. He said the company’s current strategy centers on its core porcelain business, stronger attention to markets and customers, a younger and more modern brand, online expansion and new markets.

Blaschke had just returned from a business trip to India, which he sees as a market with potential. Meissen also wants to develop business in the Gulf region once the fighting there has ended.

The company is trying to preserve its artistic tradition and cultural heritage through commercial success. Blaschke cited restrained consumer spending in Germany, U.S. tariffs and the sharp depreciation of the Japanese yen as obstacles. The war Russia launched against Ukraine has also caused the Russian market to collapse.

Meissen suffered heavy losses after a 2009 strategy shift under former chief executive Christian Kurtzke, who sought to turn the manufactory into a luxury group producing jewelry, clothing and accessories. Losses reached 80 million euros by 2019. Reversing the expansion, including the closure of a Milan branch and the unwinding of a long-term lease with Harrods in London, also cost money.

Saxony, the company’s sole owner, provided 52 million euros in subsidies during that period. Meissen later incurred another 12 million euros in losses, while the state contributed a further 6 million euros in 2023 and 2024. Founded in 1710 and known for its crossed-swords trademark, the manufactory now employs 480 people after cutting 200 jobs during restructuring.

The company expects revenue of more than 35 million euros this year, with about half generated abroad. Full financial figures will be presented before Meissen’s regular general meeting.

A look into the crystal ball is not helpful.

· Tillmann BlaschkeMeissen’s managing director explained why he would not forecast when the company would return to profitability.
About this summary

Originally published by Die Zeit in German. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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