Lindex expands via franchise to Middle East

Fashion chain Lindex is opening stores in the Middle East. The first store will be opening in Saudi Arabia in September this year and a further six stores will be opening in the country during the year.

The objective is to open 25 stores in the Middle East over a 3-year period and 50 stores altogether over a 5-year period. The first country targeted for the Middle Eastern expansion is Saudi Arabia, with plans for Kuwait, UAE and Egypt to follow suit.

“We’re absolutely delighted to be opening stores in the Middle East, which is a fast-growing region with high fashion awareness and strong purchasing power. We’re also seeing shopping tourism growing constantly in the region. We’re convinced that Lindex’ inspiring affordable fashion will be a hit in Saudi Arabia,” says Göran Bille, CEO of Lindex.

The first store is planned to open in September in Jeddah in the well-known shopping centre Stars Avenue mall and during 2008 a further six stores will be opened in Saudi Arabia. The stores will cover a floor area of between 400-1000 sqm and will be fitted out according to Lindex’ modern store concept.

The Lindex stores in the Middle East will be established through a franchise agreement with Delta International Establishment, one of the Middle East’s players in the fashion trade. This is an opportunity for Lindex to open stores in an area where it would not be possible for Lindex to establish through wholly-owned subsidiaries, the strategy followed by the company on other markets. A Letter of Intent, concerning the franchise agreement, has been signed by both parties.

“This is an excellent solution, which enables Lindex to reach out to new markets and customers. Lindex is open to similar cooperation agreements on other markets, too,” says Göran Bille.

Lindex will not make any investments in the Middle East; all investments are made of Delta International Establishment, which also will employ co-workers for the Middle East Lindex organisation.

Press pictures from the shopping centre can be downloaded from www.midad.com.sa

For further information, contact:

Sara Carlsson, Director of Corporate Communications, Telephone: +46 (0)31 739 50 05, Mobile: +46 (0)70 881 14 88

Göran Bille, CEO, Mobile: +46 (0)70 344 43 04

Contact person Delta International Establishment: Carl Kindinger, Telephone: +9 66 265 245 78

About Delta International

Delta International is part of a diversified group of companies having investments in different sectors including energy, infrastructure, real estate trading and retail.

Lindex’ business concept is to offer inspiring affordable fashion. The range comprises several concepts in lingerie, women’s wear, children’s clothes and cosmetics. With around 350 stores in Sweden, Norway, Finland, Estonia, Latvia, Lithuania and the Czech Republic, Lindex is one of northern Europe’s leading fashion chains. Lindex is part of the Finnish listed Group Stockmann. Further information is available at www.lindex.com.

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