Stockmann formally changes name to Lindex

Stockmann Group has been talking about it for some time and now it’s finally happened. The company originally named after its famous Scandinavian department stores business has become Lindex Group.

The move reflects the growing importance of its more successful womenswear brand. 

The company will be Lindex Group Oyj in its native Finland, Lindex Group plc in English and Lindex Group Abp in Swedish.

The firm’s stock exchange listing will now see its ticker changing from STOCKA to — probably — LINDEX.

Lindex, which has been doing well in recent periods in markets across Europe and the UK, is the star performer in the group as the department stores have struggled and suffered from many of the issues facing physical department stores globally.

But the company was at pains to point out that the name change doesn’t affect “the iconic Stockmann department store brand, the Stockmann department store names or the online store”. It continues to work on improving the division’s performance.

That said, it pointed out that the change came about because of the Lindex division’s strengthened role in the group’s business. The womenswear brand now represents two-thirds of the group’s revenue and generated an adjusted operating result of over €90 million.