Maurici Badia, a young Catalan engineer, championed a philosophy behind a small, local furniture brand: to offer sustainable, artisanal products crafted on demand. The year was 2017, and Badia had just arrived in Spain after years abroad, beginning to market his designs on Instagram and Wallapop. Production was on demand and handled by third parties, with the designs his own. In a later interview, he would recall that the idea struck a chord: a response to the 2008 financial crisis had fostered a wave of skilled artisans across Spain who were eager to collaborate.
This spirit gave birth to Hannun, a company positioned against the tide of fast furniture and mass production, which had an environmental footprint that spurred debate. Hannun attracted significant investor support, raising several million euros to scale, and by June 2022 began trading on BME Growth, the startup market. At that point, the business reported an annual turnover in the region of 4 million euros, and the market valued it at about 30 million euros as it listed.
From that moment, the trajectory shifted. The company underwent restructuring and downsizing, and a source described the creation of a hub in Central Europe intended to optimize costs. Some products were marketed as sustainable in both production and distribution within Spain, while behind the scenes production moved toward cheaper geographies. A notable product line became viral as the firm expanded distribution from Barcelona while foregrounding communication that reinforced a sustainable narrative for Spain’s supply chain.
The cheapest production countries cited were Poland and Hungary. The company’s founding materials show early supplier engagements in Hungary and Poland, though their share of total output remained modest for some time. The long-term aim was to raise production in these regions to improve margins and deliver competitive retail prices, effectively selling furniture produced in lower-cost areas to consumers in wealthier markets.
Public disclosures from Hannun indicate sales in Germany, France, Italy, and Portugal, with new websites launched for Austria, the Netherlands, Luxembourg, and Belgium. Production continued in Hungary and Poland, with Spain remaining a key market. Best-selling items included shelves, modular shelving units, headboards, and mirrors, frequently offered at discount. This strategic shift contributed to a production cost reduction of up to 30 percent. The company’s stated goals for the year included expanding production in cheaper countries, enhancing logistics with direct shipments from Central Europe, and combining lean production with strong pricing, proximity, and sustainability standards. When asked about deviations from a sustainable, domestic production model, the firm did not issue a direct comment.
In Hannun’s public records, the company’s “Our Workshops” section originally did not disclose supplier locations outside Spain. After inquiry, a map and images appeared featuring a Polish craftsman and a Hungarian craftsman, though they did not include accompanying explanations or advertising videos.
Founder, separation
The shift in production was not the only major change for Hannun. The IPO period also saw founder Maurici Badia step aside from daily management. Although Badia retained a 6.8 percent stake and remained a director, his day-to-day involvement was curtailed, a move confirmed at the shareholders’ meeting and noted in a farewell message to the team. Public documents, however, did not reflect his continued presence on the register, and colleagues reported limited awareness of the transition.
A year earlier, Badia had anticipated returning from paternity leave in September 2022. He described becoming a father as a turning point and explained that entrepreneurs sometimes face painful shifts when money and vision diverge. In a video shared with staff, he stated that another leader would steer Hannun in the coming months, adding, “We have very different visions.” Joan Álvarez, who joined two years after Hannun’s founding, became CEO and a representative of the new direction. Badia remarked that he would step back to allow the newer leadership to guide the company forward.
About a month and a half later, Badia wrote that he would not continue with Hannun. In a message to employees, he reflected on the company’s journey, noting that the gig to spark a transformation in the furniture industry was never guaranteed to be easy, but that the early dream persisted. He drew on a historical parallel, referencing Steve Jobs and Apple as a reminder that leadership changes can precede a broader revival. He did not respond to further requests for comment from the press.
Since these changes, Hannun’s numbers started to reflect a new reality. Joining the BME allowed the company to emerge from a technical bankruptcy, and by 2022 it reported a positive net worth. While the path still included layoffs and production movements, margins rose. In the company’s first-half report for the year, Hannun noted progress: it had moved into ownership of additional businesses, including a British panel manufacturer and a Danish wood-focused brand. The aim for the year remained a target of 7.7 million euros in sales, though market capitalization did not yet align with these figures, placing the stock value in a different reality from the revenue trajectory.
The narrative around Hannun illustrates how strategic shifts—rationalizing production, repositioning in a broader European supply chain, and embracing a strong consumer story about sustainability—can coexist with ongoing financial restructuring. The company continues to navigate the balance between cost efficiency and ethical production, while stakeholders watch closely how investor appetite and market conditions will shape its capacity to scale responsibly. (Sources: industry reports and company disclosures)