Home / Knowledge / News / Apparel/Garments / Polarn Pyret acquires master franchise business in Norway
Polarn Pyret acquires master franchise business in Norway
14
Nov '13
Polarn O. Pyret AB acquires 100 percent of the shares in WAM AS in Norway. WAM AS, which is the master franchisee of Polarn O. Pyret in Noway, operates 24 physical stores as well as an e-commerce store and is expected to generate net sales of about MSEK 130.

The acquisition includes all 24 of WAM’s Polarn O. Pyret stores situated throughout Norway, an e-commerce store as well as the head office and store staff. WAM AS has 160 employees and is expected to generate net sales of about MSEK 130 on a yearly basis with good profitability.

- Polarn O. Pyret has considerable growth potential and through the acquisition of WAM AS, we are now taking the first step towards realising this potential. The takeover of the Norwegian franchise business is being carried out in light of the fact that we are successfully operating stores under our own management in Sweden and Holland.

The acquisition will help to strenghten Polarn O. Pyret’s profitability and we view the continued expansion of Polarn O. Pyret as a strategic prioritised activity, says Magnus Håkansson, President and CEO of RNB RETAIL AND BRANDS.

- I am very happy that we have managed to acquire the Norwegian franchise business. It’s a stable business both in terms of profitability and sales with a strong market position. The acquisition means that we will increase the number of proprietary stores by almost 40 percent, which will naturally have a positive impact on our profitability.

We are convinced that the integration of the acquisition will proceed quickly and easily since the business has been close to us from the outset. I am confident about the future development within Polarn O. Pyret as regards our proposition to customers, our profitability as well as our future growth opportunities, says Anders Wiberg, CEO, Polarn O. Pyret.

RnB Retail and Brands

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Eric Scholler
Groz-Beckert

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mike Hoffman
Gildan Activewear SRL

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search