Odd Molly International AB (publ)
Stockholm, 14 December 2009
Odd Molly is opening its first store in Denmark, in the middle of Copenhagen’s fashion district. It will be the third company-owned store, designed to showcase the scope of Odd Molly’s collection, along with complementary products, in a setting tailored specifically to the brand. The Danish store, which will be managed by the company, will be located on Sværtegade in Copenhagen. The grand opening is scheduled for the first quarter of 2010. It will be Odd Molly’s third store, following the existing store in Stockholm and a store in Los Angeles also scheduled to open in the first quarter of 2010.
“Copenhagen was an obvious choice as the next step for us in developing our own stores, since it is a fashion hub between Scandinavia and the rest of Europe. The world’s fashion buyers and other industry leaders gather there twice a year, and a strong conceptual retail presence will draw attention when the industry traditionally ‘takes to the streets.’ We have found a very good spot in an attractive location that suits us perfectly. We feel that having our own stores, combined with independent retailers, is a good way for Odd Molly to achieve greater brand penetration. With our own stores, we also get a better feel for the market and our consumers’ needs and wishes,” says CEO Christina Tillman.
Odd Molly stores are seen as a complement to, and support for, existing retailers. Odd Molly has no fixed plan to open more stores, but will evaluate the results of the investments it is now making and continue to assess new opportunities.
For further information, please contact:
Christina Tillman, CEO, phone: +46-8-522 28 502 or mobile: +46-733-10 60 00
About Odd Molly
Odd Molly is a Swedish company which 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 were sold last fall through around 1,450 retailers and one company-owned store in 34 countries around the world. Odd Molly has around 40 employees at 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 from the magazine Damernas Värld in August 2008.
Odd Molly’s share is traded on NASDAQ OMX First North and its Certified Adviser is Swedbank.
Odd Molly International AB (publ) has made public the information in this press release on 14 December 2009 at 8:00 a.m. (CET) in accordance with the Securities Market Act and/or the Financial Instruments Trading Act.
Odd Molly International AB, Kornhamnstorg 6, SE-111 27 Stockholm, Sweden, phone: +46 8 522 28 500, www.oddmolly.com