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Stockmann could change its name to Lindex Group

Stockmann could change its name to Lindex Group

On May 12, it was announced that Susanne Ehnbaugh, CEO of Lindex, would also be appointed CEO of Finnish parent company Stockmann.

Today, the group announces that it is considering changing its name to Lindex Group.

In 2022, Lindex accounted for two-thirds of the group’s sales – and with its operating profits, the chain accounted for the majority of Stockmann’s results.

Today, the Group’s Board of Directors decided to appoint a strategic assessment of the business. It’s partly about putting a clearer focus on Lindex and partly about finding a good way forward for the department store business, so that it develops in the best way.

Lindex has played an essential role in enhancing the group’s performance over the years. Initiating a strategic evaluation regarding the name change and considering strategic alternatives for the department store business is a natural next step in our strategy and reflects Lindex’s growing role within the group, says Chairman of the Board of Management Saari Pohjonen.

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She notes that there are no plans to change the name of the classic stores.

– The strategic evaluation does not affect the distinctive brand of the Stockmann department store or its daily operations, continues Sari Pohjonen.

However, the group should review different ways forward to achieve this.

“Options include expanding the independent role of department store operations within the group, considering potential changes in ownership, strategic partnerships or continuing with the current structure,” Stockman wrote in the press release.

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The strategic evaluation is expected to be completed in 2024. A decision on the potential name change must be made at a public meeting.