Louis Poulsen

The Louis Poulsen Group is a leading international lighting manufacturing company based in Denmark. Founded in 1874, the company now has 1,100 employees and subsidiaries in Finland, France, Germany, Japan, the Netherlands, Norway, Sweden, Switzerland, the UK and the US.

Louis Poulsen's relationship with Grant Thornton member firms started in 1977 when the Danish firm helped the company to list on the Copenhagen Stock Exchange and began to audit its Danish accounts. In 1999 Louis Poulsen delisted from the stock exchange.

Louis Poulsen developed its international operations and in 2000 Grant Thornton member firms were appointed to handle all the auditing work worldwide.

The bigger picture

Grant Thornton member firms around the world provide Louis Poulsen with other specialist services as well as audit and tax.

Steen Høedt Thomsen, partner at the Grant Thornton member firm in Denmark has worked with Louis Poulsen for 20 years: "We are really pleased to be working with such a progressive company. Our advisory services have included preparing environmental statements, tax and reorganisation work as well as advising on expanding abroad."

International expansion ambitions

Grant Thornton member firms support Louis Poulsen's international expansion ambitions. For example, as the company expanded further into the external lighting market, through an acquisition in the UK, Grant Thornton UK carried out all the due diligence work for the transaction.

Proactive advice

"Like most companies who work across borders, different tax regulations in different countries can cause us a significant headache. Grant Thornton member firms help us through this as well as advising on issues withn personal taxation when our executives work abroad," explains Erik. "They do a good job because they ensure the quality of all their work is high and are proactive in offering advice."

In 2003 Louis Poulsen also began working with Grant Thornton Japan and Yoshihiko Higuchi, from Louis Poulsen Japan is also full of praise. "I particularly enjoy working with Grant Thornton Japan because of the good quality of the work they perform for us and the high calibre of their tax consultancy and audit. They also deliver their work on time which is always important. Grant Thornton firms make it easy for us to communicate internationally; the firms in the network share high standards and they are flexible in their approach."

So after 25 years, what does Erik believe to be the most important lesson of doing business internationally?

"The biggest barriers to working internationally are undoubtedly cultural differences. You need to have respect for the culture of each country, understand it and adapt to it. The best thing about Grant Thornton is that the key people in the member firms are accessible and talk to us on a regular basis. They understand our business and there's good chemistry in our professional relationship."

"We have great trust in Grant Thornton firms and turn to them to keep us up-to-date with accounting and taxation issues."
Erik Holm
Chief executive officer
Louis Poulsen

"Grant Thornton firms make it easy for us to communicate internationally; the firms in the network share high standards and they are flexible in their approach."
Yoshihiko Higuchi
President
Louis Poulsen Japan