Finnish fashion retailer Lindex to open 100 franchise stores in China by 2018

AB Lindex, a subsidiary of Finnish retail trade group Stockmann, will create a chain of 100 fashion retail franchises in China by 2018, Stockmann said.  

Lindex has signed a franchise agreement with Chinese electrical appliance retailer Suning Appliance Company in September, its parent said in a press release.  

The partnership will speed up the company’s international expansion.

Lindex has been around since 1954 when its first store opened.

The first franchise will open in September 2014 in Shanghai, the largest city by population in the world. The company plans to establish some 100 stores for the period 2015-2018.

Suning will also introduce in China Lindex products in an online store.

Currently, Lindex has entered into four franchise partnerships and has 33 franchise stores in Saudi Arabia, the United Arab Emirates, Serbia, Bosnia and Herzegovina, and Iceland.

Lindex was established in 1954. It employs some 5,000 workers in 470 stores in 16 countries. Lindex is an afordable female fashion retail brand but also provides children’s wear and cosmetics.

In 2012 the company opened its first franchises in Serbia and Croatia. Despite the decrease of the general fashion market in 2012, Lindex increased its market share in all of its countries of operation except in Norway.  Its revenue went up to 670 million euro, or a 7.5% increase on the year.