Home / Knowledge / News / Apparel/Garments / Stockmann announces Fashion Chain Division
Stockmann announces Fashion Chain Division
16
Jun '12
The Stockmann Group is introducing a new organizational structure to accelerate the growth of the Lindex and Seppälä fashion chains and to strengthen the affordable fashion business.

The new Fashion Chain Division includes all current operations of Lindex and Seppälä and will support their strategic aim of successful international expansion.

Both the Lindex and Seppälä brands will be further developed according to their unique brand identities while focusing on their core customer groups.

The Fashion Chain Division will take shared processes and support functions into use to enable stronger cooperation between the chains and more cost-efficient operations for both brands. There will be no material one-time costs related to the changes.

Mr Göran Bille has been appointed Director, Fashion Chain Division. He also continues as the CEO of Lindex. Ms Nina Laine-Haaja continues as the CEO of Seppälä and will report to Göran Bille. Nina Laine-Haaja will also be a member of the Stockmann Group’s management committee during the transition period until the end of 2012.

The new structure will bring more clarity for the Stockmann Group’s two types of retail business: department stores and fashion stores. The Group’s operating segments in financial reporting will be the Department Store Division (Stockmann department stores, Hobby Hall, Academic Bookstore, Stockmann Beauty as well as the Bestseller and Zara franchising stores) and the Fashion Chain Division (the Lindex and Seppälä fashion chains).

The new reporting structure will be used in monthly revenue releases from June 2012 onwards and in the interim report for January - June 2012, which will be published on 10 August 2012.  

In 2011, Lindex’s revenue totalled EUR 624.1 million and operating profit EUR 41.2 million. Seppälä’s revenue was EUR 143.8 million and operating profit was EUR 1.4 million.

In total the fashion chains made up 38 per cent of the Stockmann Group’s revenue and 55 per cent of the Group’s operating profit in 2011. At the end of March 2012, Lindex had 451 stores in 14 countries and Seppälä had 227 stores in 6 countries.

Stockmann Group


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search