Home / Knowledge / News / Apparel/Garments / Chinese firm Suning cancels Lindex's franchising agreement
Chinese firm Suning cancels Lindex's franchising agreement
21
Mar '14
Stockmann’s subsidiary AB Lindex entered into a franchising partnership with the Chinese company Suning in September 2013. Suning has now unilaterally withdrawn from the franchising agreement. Stockmann and Lindex will evaluate the legal consequences of Suning’s announcement. 
 
The withdrawal is not estimated to have a significant effect on Stockmann’s earnings for 2014, since the store openings were planned to take place mainly from 2015 onwards.
 
International expansion and franchising operations hold a key position in Lindex’s strategy to become a global fashion brand. Lindex will investigate other opportunities to expand into the Chinese market, which continues to offer promising prospects for the fashion business. Suning’s withdrawal will, however, delay Lindex’s entry to the market.
 
“We are convinced that Lindex’s successful fashion concept will attract Chinese customers. Our concept has proven to be a success in all the markets in which we currently operate. We will now look into new ways to enter the market,” says Göran Bille, CEO of Lindex.
 
Lindex currently has 443 own stores in 10 countries and 33 franchising stores through four franchising partners in six countries: Saudi Arabia, the United Arab Emirates, Bosnia and Herzegovina, Serbia, Croatia, and Iceland.

Stockmann

Must ReadView All

Courtesy: NEJ

Apparel/Garments | On 24th Jan 2017

NEJ fully acquires Bills Khakis from Source Capital

Provider of reverse logistic excess inventory solutions for specialty ...

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Jurgen Gauger
Spreadshirt

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

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Karan Arora
Karan Arora

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search