Fashion chain Lindex, a subsidiary of Finnish retail group Stockmann, is expanding its operations to China. The company has signed a franchising co-operation agreement with the Chinese retailer Suning, according to which Suning’s objective is to open 100 Lindex stores in China.
According to Stockmann, the partnership is the biggest step Lindex has taken in its international operations. The deal will add considerable momentum to the fashion chain’s international expansion efforts.
The first Lindex store in China will open its doors in Shanghai in September of 2014, and the rest are scheduled to open between 2015 and 2018. Suning will also sell Lindex’s products on its online store.
Lindex currently has 33 franchise stores in 6 countries: Saudi Arabia, the United Arab Emirates, Bosnia-Herzegovina, Serbia, Croatia and Iceland.
Established in 1990, Suning is one of the largest companies in China. Its main business area is retail trade, combined with real estate development and the service industry. The company has more than 1 700 stores in over 700 cities in mainland China and elsewhere in Asia.
Stockmann, established in 1862, is a Finnish retail group. It has two divisions: department store division and the fashion chain division, which operate in sixteen countries.
Sources: www.lindex.com and www.stockmanngroup.fi via GoodNewsFinland.com