By reorganising the business and focusing on new and innovative energy-efficient solutions, the crippling economic circumstances of the 1970s presented opportunities for growth and international expansion.
Challenging market conditions
The VELUX Group profited greatly from the building boom in Europe and in the USA in the years following World War II. However, all that changed in 1973 when oil prices sky-rocketed following conflict in the Middle East. This had an enormous impact on the building industry in the VELUX Group’s markets – especially in West Germany, where roof window sales fell by more than 24 percent. The management team responded quickly to these challenging market conditions by restructuring the organisation and increasing focus on good service, reliable products and innovation. This proved to be the winning formula that brought the VELUX Group through the crisis.
New markets and products
New markets were added, and sales companies and production facilities were established in Great Britain, France, the USA and Canada. The expansion continued throughout the 1980s, this time mainly in Central and Eastern Europe. These turbulent years also saw the product portfolio expand from a single product type to a full range of products, including top-hung roof windows for lower roof pitches, roller shutters, electric-powered windows and an extensive range of accessories and sunscreening products.