Investing in Stockmann

Stockmann, established in 1862, is a Finnish listed company engaging in the retail trade. It had 44 289 shareholders and 5 802 employees at the end of December 2022. Stockmann Group consists of two business divisions: the Lindex fashion group and Stockmann department stores and webstores.





EUR 981.7 mill.

EUR 899.0 mill.

Adjusted EBIT

EUR 79.8 mill.

EUR 68.3 mill.

Lindex division’s share of the turnover is 67% and Stockmann division’s 33%. Finland contributes 33% to the sales, Sweden 36%,Norway 514% and the Baltics and other countries 17%.

Lindex Division

Lindex’s purpose is to empower and inspire women everywhere. We do that through our actions as a company and through a progressive fashion experience. Our customers, co-workers and partners are all part of this ambition. We are powered by people and we have embraced digitalisation. We promise customers fashion that feels and looks good. To fulfil our purpose and vision, we have made a promise – to make a difference for future generations. The purpose includes all dimensions of sustainability and is divided into three areas: empower women, respect the planet and ensure human rights.

According to Lindex’s long-term strategy, we aim to be a global, brand-led, sustainable fashion company. This means growth in digital revenue, both in our own e-commerce as well as in collaborations with global digital platforms, improved cost efficiency, and growth with new businesses, while meeting our sustainability targets.

Stockmann Division

Stockmann’s purpose in all encounters with its customers, partners, employees and other stakeholders is to make a new impression, every day. Our vision is to create a marketplace for a good life. Customer centricity, i.e. the ability to understand customers, to serve them in the way they choose and to provide a unique customer experience, is the core of the strategy. We provide a curated merchandise selection in fashion, beauty, home and food, combined with various services for our customers, in our eight department stores as well as in the online store. The Stockmann promise to customers is to create a feeling that lasts, provided by our professional and service-minded personnel.

Stockmann’s financial priorities for the strategy period are revenue growth and the improvement of profitability and return on investments.

Lindex Division is investing EUR 110 million in a highly automated Omnichannel warehouse in Sweden

The new omnichannel warehouse is the largest investment in Lindex’s history and a crucial step in fulfilling the company’s long-term growth plans. It is also crucial for securing the future of the logistics operations and strengthening the competitive advantage. It will manage the supply of goods to all the fashion company's stores and the strongly growing e-commerce as well as the company's third-party collaborations with global fashion platforms.

With the new facility, Lindex will initially be able to quadruple its e-commerce capacity and ensure a scalable and sustainable logistics solution for all sales channels. The initial e-commerce capacity will be approximately 13 000 picked and packed garments per production hour. The highly automated and climate-smart facility will be approximately 40 000 square metres in size and is planned to start operation in 2024.

Sustainability is at the core of the Stockmann Group’s business

The Stockmann Group signed the Science Based Targets initiative (SBTi) to set targets for reducing its carbon dioxide emissions in line with the Paris Agreement. Through the SBTi commitment, Stockmann will enhance its climate action and further develop a low-carbon roadmap to cut emissions and reduce climate risks. Stockmann will determine its science-based climate targets in accordance with the schedule of the initiative. 

Lindex division’s sustainability promise is based on the brand’s vision – to empower and inspire women everywhere. It is divided into three focus areas with which we aim to promote sustainability and to commit to empowering women.

Women make Lindex possible, and we want to help create possibilities for women in return.

  1. To empower women, Lindex is taking the lead in creating fair and equal workplaces for women, advocating inclusiveness and body positivity, and supporting a sustainable lifestyle.
  2. To respect the climate, we are taking action on it, being water-responsible and having a circular business approach. By 2025, 100% of Lindex’s materials will be recycled or sustainably sourced. In 2021 the share was 78%.
  3. To ensure human rights, Lindex is advocating respect for them.

Stockmann division’s sustainability promise is in line with the customer-centric business strategy. It is based on the materiality assessment and Stockmann’s​​​​​​​ CSR strategy 2022–2025, which will guide us towards more resource-wise retail business. The strategic sustainability priorities are grouped under three priority areas that determine the future of our responsibility work:

  1. Profitable and responsible business: We ensure profitable, responsible and stable returns and create added value for all stakeholders by responding to customer needs as well as operating with good governance and compliance and communicating transparently.
  2. Environmental sustainability: We actively increase new actions to strengthen an environmentally sustainable value chain and to support climate change mitigation actions in all operations and consider the circular economy as a growing part of our product range and services. Stockmann has been selected for the Circular Design programme which is an initiative that dives deep into circular design principles and focuses on generating concrete product and service concepts to secure competitive advantage.
  3. Ethical responsibility and collaboration: We develop and encourage the work community towards meaningful work experiences, and we continuously improve actions to ensure an equal, diverse and safe work community in all our operations and in the supply chain.

Restructuring proceeding according to plan

Stockmann Group has been systematically implementing the restructuring programme which was approved in February 2021. The restructuring programme is based on the continuation of Stockmann’s department store operations, the sale and lease-back of the department store properties located in Helsinki, Tallinn and Riga, and the continuation of Lindex’s business operations as a fixed part of the Stockmann Group.

The Group has limited capacity to arrange new financing. The restructuring programme cannot be terminated before all disputed demands have been settled.

The restructuring process is proceeding according to plan, which means that all of Stockmann’s department store properties have been sold and all interest-bearing debt has been paid except for the bond of EUR 67.5 million. The department store property in Tallinn was sold in December 2021, and the agreement for the sale of the Riga department store property was signed in December 2021 with closure in January 2022. The department store property in Helsinki city centre was sold in April 2022, and the last classified restructuring debt was also paid.