STOCKHOLM, Sweden, May 7, 2002 (PRIMEZONE) -- Per Uebel has been appointed acting country manager of Lindex Germany, operating manager will be Anita Strandberg. Fusun Khan country manager of Lindex Germany, chooses to leave her position.
Against the background of the continued weak economic trend in Germany and Lindex's focus on profitability, the company continues to maintain a lower expansion rate in Germany. In order to adjust to the market trend, Lindex decided to close two stores during the first half of the 2001/2002 financial year and further adjustments will be implemented in the future. Lindex is now mainly concentrating on opening new stores on medium-sized cities where the Lindex concept has proved to be most successful. A new store will be opening in Darmstadt in mid-May.
Lindex is going through a consolidation phase in Germany with a lower expansion rate as a consequence of this. As a result of this and the fact that Lindex management and Fusun Khan, country manager in Germany, doesn't share the management's view of the company's future development. Fusun Khan has decided to resign. Instead Per Uebel, country manager of Lindex Sweden, has been appointed acting country manager of Lindex Germany until the company has come up with a permanent solution. Anita Strandberg has been appointed operating manager in Germany.
"Per Uebel has several years' experience of the German market, partly from his previous job at H&M in Germany. Anita Strandberg has worked in leading positions within Lindex in Sweden, Finland and Germany, for several years. Most recently she worked with our five successful development stores in Germany. At the same time, we have started an external search process to find a permanent solution," said Jorgen Johansson, President and CEO of AB Lindex.
Lindex has implemented a number of measures in order to secure increased sales and improved profitability on the German market. These measures include a wider adaptation of its product range and store concept to the German market.
"Whilst we are in a development phase in Germany, we are already beginning to see that our measures are starting to generate results. The new spring products in the stores are doing well, which shows that our adaptation of the product range was right," said Jorgen Johansson.
For further information, please contact:
Jorgen Johansson, Mobile: +46 705-94 21 22
President and CEO
Peter Andersson, Mobile: +46 705-84 44 37
Chief Financial Officer
Ulrika Danielson, Telephone: +46 322-74 400
Manager of Communications Mobile: +46 709-50 16 13
The Lindex Group consists of two retail chains: Lindex with 353 stores of which 319 are in the Nordic market and 34 stores in Germany, and Twilfit with 61 stores in Sweden of which 13 are operated as franchise stores. The Group's product areas are Ladies' Wear, Lingerie and Children's Clothing.
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