What: Finnish retailer Stockmann is proposing a name change to Lindex Group plc, reflecting the growing significance of its successful womenswear division, Lindex.

Why it is important: This rebranding aims to better represent Lindex's dominant role within the group, highlighting its contribution to the company's revenue and performance. The move also signals a strategic shift, focusing on the thriving Lindex brand while exploring options for the traditional department store segment.

Stockmann, a retailer with a long history of department store operations across Finland, Scandinavia, the Baltics, and Russia, is set to undergo a significant transformation. Following a strategic review initiated last autumn, the company's board has recommended changing its name to Lindex Group plc. This decision underscores Lindex's critical contribution to the group, with the brand accounting for two-thirds of last year's revenue and generating an impressive adjusted operating result. Despite the proposed name change, the Stockmann department stores and online presence will continue to operate under the established Stockmann brand, maintaining its market identity. The final decision on the rebranding will be subject to shareholder approval at the Annual General Meeting scheduled for March 21. Meanwhile, Stockmann is actively evaluating strategic alternatives for its department store business, with conclusions expected within the year. This strategic pivot reflects the company's adaptation to changing market dynamics and its commitment to leveraging the strengths of its more profitable divisions.

After review, Stockmann confirms it wants name change to Lindex