Finnish department stores operator, Stockmann, is currently undergoing a strategic assessment that could lead to a name change for the company. The potential new name being considered is Lindex, which is the international fashion brand owned by Stockmann. This move reflects the growing dominance of individual brands within the retail industry, compared to traditional department stores.

Lindex has proven to be a thriving division within Stockmann, contributing significantly to the company’s revenues. In 2022 alone, Lindex generated a substantial 66% of Stockmann Group’s total revenues, amounting to €661 million. It also made an operating profit of €90 million. Given the division’s importance within the group, Stockmann is contemplating a name change that accurately represents the role of Lindex in its business.

The department stores operated by Stockmann will still retain the Stockmann brand. However, the company is exploring strategic alternatives for this business. It is considering options such as granting more independence to the department stores within the group, exploring ownership changes, forming strategic partnerships, or maintaining the current structure.

Sari Pohjonen, the Group Chair of Stockmann, recognizes the significant contribution made by Lindex in improving the company’s performance over the years. The ongoing strategic assessment, which includes evaluating alternatives for the Department Stores business and the possibility of a name change, is in line with Stockmann’s overall strategy. Pohjonen assures stakeholders that this assessment will not impact the iconic brand or the daily operations of Stockmann Department Stores.

However, any decision regarding the name change will have to be approved by Stockmann plc’s general meeting and will be announced at a later date. The strategic assessment is scheduled to be finalized by 2024.

Useful links (if applicable):
Stockmann Official Website
Lindex Official Website