Odd Molly International AB (publ)
PRESS RELEASE
Stockholm, May 26, 2009
Odd Molly has developed clothing for women since 2002, successfully establishing its brand in some 40 countries worldwide. During the past year, the company initiated licensing partnerships within the eyewear and skincare product groups. Odd Molly has now chosen to enter the menswear segment to meet the current demand for masculine, casual and personal men’s clothing. The launch of Odd Molly’s first menswear collection in selected markets is planned for autumn 2010.
“After seven years in women’s clothing, we are ready to enter the menswear segment. We have an experienced and competent organization and a business model that includes selected agents, which enables us to efficiently establish a global presence ¬– but we plan to begin cautiously, launching our products in a few markets next year,” says Christina Tillman, President of Odd Molly.
During the first stage of its menswear venture, Odd Molly will develop a small collection under a proprietary brand, which will be launched in cooperation with a selection of the company’s existing agents. The company will also evaluate new partners that have successfully established contacts in the menswear segment.
“Our experience tells us that there is considerable demand for casual men’s clothing with a personal design. At the same time, this is a new target group for Odd Molly. But if we are successful in this segment, men and boys tend to show greater brand loyalty as a target group than women and girls,” says Christina Tillman.
As with the Odd Molly’s women’s collections, all design and product development will be performed by the company itself. The organization will gradually be expanded to include a small staff of experienced employees in the areas of design, purchasing and sales to manage the initial development work that will commence in autumn 2009.
For further information, please contact:
Christina Tillman, President, phone +46-8-522 28 502 or +46-733-10 60 00 or e-mail christina@oddmolly.comAbout Odd Molly
Odd Molly is a Swedish company that designs, markets and sells fashion for women, primarily through retailers worldwide. The brand’s signature is beautiful, personal, sensual designs, combined with high quality and a distinctive profile. Odd Molly products are sold through approximately 1,550 retailers and one company-owned store in 36 countries around the world, with local representation in 23. Odd Molly has 36 employees at its offices in Stockholm and Los Angeles, as well as the company-owned store in Stockholm. Sales amounted to SEK 268 million in 2008, with operating profit of SEK 68 million. Odd Molly’s profitable growth is the result of creative design, consistent branding and a business model that facilitates expansion with limited capital requirements and minimal inventory risk. Odd Molly’s Chief Designer received the prestigious “Golden Button” fashion design award in August 2008 from the magazine Damernas Värld. Odd Molly’s share is traded on First North and its Certified Adviser is Swedbank.
Odd Molly International AB, Kornhamnstorg 6, SE-111 27 STOCKHOLM, switch: +46-8-522 28 500
www.oddmolly.com
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