What: The board of director of the parent company has proposed that Stockmann department stores might keep their name, even if the parent company changes its own.

Why it is important: Branding equity is key in the process of finding an acquirer.

The Board of Directors of Stockmann plc has proposed changing the company name to Lindex Group plc/Lindex Group Oyj/Lindex Group Abp. This would better reflect Lindex's strengthened role, as it generated over 90 million euros in 2023 and accounts for two-thirds of the group's revenue. The iconic Stockmann department store brand, stores, and online store would remain unchanged. The proposed name change is subject to shareholder approval at the March 2024 Annual General Meeting and formal registration. It comes as Stockmann refocuses strategically on the Lindex fashion business, as part of a September 2023 decision. Stockmann continues to investigate strategic alternatives for the Stockmann Department Stores business, with outcomes expected in 2024.

Stockmann department stores’ name might not change after all