Sustainable business approach
In the Stockmann Group, financial responsibility means good financial management that meets shareholders’ profit expectations, creates permanent jobs and generates economic wellbeing for society.
Stockmann is a major employer, a significant purchaser of products and services, an investor and a partner and taxpayer. Competitiveness and sound financial performance enable the company to enhance the wellbeing of its personnel and of society as a whole. Socially responsible operations, in turn, create a solid foundation for efficient operations and the company’s financial growth.
We aim for long-term profitable operations and are taking several structural measures to return our business to profitability.
We act transparently
Our principles are transparent and responsible business. We are a founding member of Transparency Suomi ry, the Finnish chapter of Transparency International, an organisation that works to combat international bribery and corruption (link opens in new tab). Stockmann’s employees and management must act in the best interests of the company and avoid conflicts of interest.
Stockmann’s Code of Conduct includes policies relating to anti-corruption measures and anti-competitive behaviour. Anti-corruption policies are also included in the codes of conduct applied in our supply chain, which include the Supplier Code of Conduct.
The effectiveness of internal control is monitored by the Internal Audit, which operates as an independent unit under the CEO and reports to the Board’s Audit Committee.
The purpose of our anti-corruption policy is to provide further guidance and instructions to the standards of conduct regarding corruption and conflicts of interest as set out in Stockmann Group’s Code of Conduct by outlining nonacceptable behaviors in order to prevent and detect corruption.
Safe products from design to recycling
Lindex and Stockmann are responsible for ensuring, on their part, that the products available for sale are safe and do not pose a risk to customers’ health or property. Both divisions have established preventive procedures for the systematic monitoring and continuous improvement of their operations.
The fashion industry strongly depends on the use of chemicals during production. The Stockmann Group complies with the REACH Regulation regarding chemicals and in some cases with requirements that are even stricter than those in this Regulation. Suppliers must ensure themselves that their operations comply with the requirements. We use independent laboratories for product testing.
The materials used in the products are selected at the design stage with an eye to sustainability and customer target groups. In addition to a customer focus and high-quality materials, the design of products takes into account, among other things, material efficiency and product maintenance and reparability, which contribute to extending the product’s service life.
For the purposes of recycling the aim is to ensure that different materials can be separated so that they can be used to produce new raw materials or be reused. The aim is to increase the proportion materials that have less impact on the environment in own-brand products.
Product recalls are handled in accordance with Stockmann’s and Lindex’s internal product recall guidelines, which specify the responsibilities and the action required. Recalls are very rare and the number of customer complaints is low.
Activities in organisations
The Stockmann Group has representation in several national and international organisations. The main organisations and Stockmann’s representation are listed below.
Finnish and international organisations with representation from Stockmann
International organisations where the Stockmann Group is a member, but currently without representation
Swedish and international organisations with representation from Lindex
International organisations where Lindex is a member, but currently without representation
The Stockmann Group has a whistle-blowing channel provided by an external partner, which employees, partners and other stakeholders can use to anonymously report any suspected or detected violations of the Code of Conduct or other Group policies.