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Stockmann to bring Swedish fashion chain to Russia

24
Mar '08
With the purchase of Lindex, the Stockmann Group has gained a significant position in the markets of Sweden and Norway, where it has not had operations previously. Lindex has a very large share of the Swedish and Norwegian market and operations there are very profitable. While the Lindex acquisition counterbalances the risk of the Group's eastward expansion, it also opens up new and immediate opportunities for expanding in the eastern market.

The objective is to start up Lindex's operations in the fast-growing Russian market before the end of this year. This means that Stockmann of Finland will be the player who first brings a Swedish fashion chain to Russia.

The Czech Republic too, where Lindex started operations last autumn, is a new country for the Stockmann Group. Via Lindex's own purchasing offices, China, India, Bangladesh, Pakistan and Turkey also became countries where the Stockmann Group operates.

Click here to read more details:

Stockmann Oyj


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