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Radical restructuring at fashion company Oda

23
Jan '06
Fashion collection offering company Oda of Norway informed that clears up of the current company structure.

It was not possible to find an investor to continue development of the current company structure of Oda of Norway as, and expand its distribution. A further operation is therefore impossible.

The strength is the Oda concept with design and product development, but the weaknesses have been distribution and managerial development.

Without investor capital they have realized that it is impossible to obtain growth in the current market. As a result, they are doing a drastic restructuring of the company to be able to still leverage from the Oda brand name, but with a new company structure.

Their offices at Åsen, Stavanger (Norway) and their store in downtown Stavanger will be closed at some point during February/March of 2006. Most likely the store location will be rented out for a period of time until a new concept emerges. Their main inventory location will be completely liquidized, with major rebates offered.

Their store in Søregt., Stavanger (Norway) has obtained a revenue higher than expected and is after only one year in operation profitable.

It shows that they definitely have market potensial, and this makes us eager to come back even stronger! Unfortunately, their most important customers, the independent stores, have during the last years been shrinking in size.

They have done strategical changes and employed new people in managerial-level positions. But even with these drastic changes they have not been able to quickly enough reverse the trend of a falling revenue stream.

Oda of Norway has already earned international recognition for outstanding design based on Norwegian traditions. The company is located in Stavanger, a city on south-west coast of Norway, where the unruly North Sea is reflected in the environment and the people.

Oda of Norway


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