Stockmann on Thursday announced that it will offload its mail-order subsidiary, Hobby Hall, in order to concentrate its resources on developing its own web-shop, Stockmann.com. In addition, the traditional retailer will close its Seppälä stores in Russia in order to be able to develop its other fashion chain, Lindex, into a global brand.
“There are regional and global brands. While Seppälä is a solid regional brand, Lindex has the potential to become a global one,” explained Kaj-Gustaf Bergh, the board chairman and interim chief executive at Stockmann.
Market research, he said, indicates that although Seppälä has failed to secure its foothold in Russia, it remains a good brand in Finland and the Baltic countries.
The 16 Seppälä stores in Russia will be shut down gradually by the end of next year to avoid incurring any excessive one-off costs.
Heikki Arola – HS
Aleksi Teivainen – HT
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Photo: Markku Ulander / Lehtikuva