The board of directors of Finnish Stockmann has proposed changing the company’s name in Russia to Lindex Group. At the same time, offline and online stores will continue to operate under the brand that Russians are already familiar with. This has been reported Press release Stockmann.
“The proposed name change will better reflect the division’s strengthening role in the group’s affairs. In 2023, Lindex’s turnover was two-thirds of Stockmann’s and the division’s adjusted operating result reached €90 million,” said Sari Pohjonen, chairman of the board of directors.
Some market experts argue that the brand management wants to alleviate criticism of its presence in Russia in this way.
The decision to change the name must be made by Stockmann shareholders. The issue was presented for discussion at the company’s annual general assembly meeting to be held on March 21, 2024.
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