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Sandra Halliday Published
February 26, 2025
It looks like the mooted name change for Finnish retailer Stockmann — to Lindex, its successful womenswear retail division — is likely to go ahead with a shareholder vote next month.
The retailer was previously best known for its famous department stores in its domestic market, in Scandinavia, the Baltics and Russia. But it launched a “strategic assessment” of its operations last autumn and said it was considering a name change to Lindex while looking at “alternatives for the Department Stores business”.
The partial results of that assessment have now been published with the company saying its board “proposes that the name of Stockmann plc would be changed to Lindex Group plc. In Finnish the new name is proposed to be Lindex Group Oyj and in Swedish Lindex Group Abp”.
While the department stores operation has shrunk in recent years and the firm’s department stores have exited various international markets, the company said the “possible name change would not affect Stockmann’s department stores or online store, which would continue to operate under the strong Stockmann brand.
The name change is intended to “better reflect the Lindex division’s strengthened role in the group’s business”.
Lindex has been riding high and is a popular brand across Europe and the UK. Last year, Lindex represented two-thirds of the group's revenue and generated an adjusted operating result of over €90 million.
Lindex “has had a fundamental role in improving the group’s performance in recent years, which is reflected in the strategic refocus of the group's business on [it]”.
The final decision will be made by shareholders at the Annual General Meeting on 21 March.
As for what will eventually happen to the Stockmann operation, the company said it "continues to investigate strategic alternatives for the Stockmann Department Stores business. Stockmann expects the strategic assessment to be finalised during 2025".