Odd Molly International AB (publ)
Stockholm, September 29, 2009
Odd Molly is increasing its presence in the US and will open its first proprietary store there in spring 2010. The store will be located in the center of the trendiest district in Los Angeles and is another step in the company’s efforts to achieve a stronger position in the US market. The store will enable Odd Molly to display its collection holistically in an environment that is unique for the brand and it should be viewed as a complement and support for existing retailers. In the past, Odd Molly sold its collections only through external retailers, but in February 2009, the company opened its first proprietary store on Humlegårdsgatan, Stockholm. Following a successful start for the Swedish store, Odd Molly has now decided to open its second store – this time in Los Angeles, where the company has had a subsidiary and office for a couple of years. The store in Los Angeles will be located at 104 S. Robertson Boulevard, West Hollywood, in the middle of the city’s trendiest fashion district, and opening is scheduled for February 2010. The store will have nearly 250 square meters of retail space and be designed according to the same concept as the one in Stockholm.
“We found excellent premises in a perfect location and are now opening a store in Los Angeles to generate additional penetration for the brand. The decision is an important step in our efforts to increase our strength and we estimate that a proprietary store, combined with external retailers, is the best way for Odd Molly to enhance its position in the US,” says Christina Tillman, President.
With a proprietary store, Odd Molly will have the opportunity to display the breadth of its range in an environment that it has carefully selected, which is deemed to benefit current and new external retailers’ demand in the US. The store will also increase the prospects for a strong launch of the men’s collection, which is planned for autumn 2010. The organization will also be strengthened in the US with a new, locally recruited sales and marketing manager.
Odd Molly has no confirmed establishment plans for additional stores, but will evaluate the outcome from the investments now being made and will continuously assess attractive opportunities.
For further information, please contact:
Christina Tillman, President, Odd Molly, Tel: +46 (0)8-522 28 502 or Mobile: +46 (0)733-10 60 00About Odd Molly
Odd Molly is a Swedish company that designs, markets and sells fashion for women, primarily through external retailers worldwide. The products are characterized by their beautiful, personal and sensual design, combined with high quality and a distinctive profile. During the spring, Odd Molly products were sold through approximately 1,550 external retailers and one proprietary store in 36 countries around the world, with local representation in 24. Odd Molly has 40 employees at its offices in Stockholm and Los Angeles and in its proprietary store in Stockholm. Sales amounted to SEK 268 million in 2008, generating 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, Tel: +46 (0)8-522 28 500
Press images are available for download from Odd Molly’s website, www.oddmolly.com under “press/media”.
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