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Heppo to be part of CDON Fashion business segment

31
Aug '10
Modern Times Group MTG AB, the international entertainment broadcasting group, announced that CDON Group AB has launched Heppo.com, which is a new online shoe retailing brand. Heppo was launched in Sweden, and will be launched in Norway, Denmark and Finland during September. The online store will initially offer more than 1,000 individual footwear models from 100 different brands.

Heppo.com will be part of CDON Group's Fashion business segment, which also includes fashion retailer Nelly.com and children's clothing retailer LinusLotta.com.

Heppo's initial range will include sneakers, high heels, pumps, boots, slippers, loafers, wedding shoes, boat shoes, desert and hiking boots from Scandinavian and international brands like Bobbie Burns, Clarks, Filippa K, Fred Perry, Friis & Company, Tiger, Vagabond, Whyred, Loake and Lloyd.

Hans-Holger Albrecht, President and CEO of MTG and Chairman of CDON Group, commented: “The launch of Heppo.com will complement CDON Group's current fashion retailing portfolio, and demonstrates CDON Group's ability to expand by utilising its existing infrastructure to launch new businesses in fast growing market segments.”

“We continue to work towards the demerger of CDON Group by means of the distribution of the business to our shareholders, which we expect to complete in the fourth quarter. This new launch is further evidence of CDON Group's scale, ambition and clear growth strategy.”

CDON Group comprises all of MTG's internet retailing operations and is expected to be spun-off from MTG by means of the demerger and distribution of CDON Group shares to MTG shareholders in the fourth quarter of 2010.

Modern Times Group MTG AB


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