Odd Molly International AB (publ)
Stockholm, 8 April 2009
The recently concluded order period for Odd Molly’s fall and winter collections 2009 produced further growth compared with the same period of 2008 despite difficult market conditions. Orders for the second half of 2009 exceed SEK 158 million, an increase of 23 percent compared with the order value for the same period a year earlier. Odd Molly has found opportunities despite uncertain economic conditions and has maintained an aggressive strategy, thanks to which it has been able to continue, after many seasons of strong gains, to increase its total order value in 2009. Odd Molly has received binding orders for the fall and winter collections 2009 of slightly over SEK 158 million, an increase of 23 percent year-over-year. The increase includes a slightly positive exchange rate effect.
Based on orders placed for the year’s main collections, the order value for the full-year 2009 will be around SEK 296 million, compared with 2008 sales of nearly SEK 268 million. This year as well a pre-spring collection will be added during the second half of the year.
“Our sales of fall merchandise show that market share can be gained even in tough times. We continue to focus our attention on a variety of fronts, including the launch of our first company-owned store, advertising with supermodel Helena Christensen, the new skincare product line, even stronger collections and, not least, continuous improvements throughout the company. We are also proud and pleased that Odd Molly was one of six companies nominated for the Grand Export Prize awarded by the Swedish Trade Council,” says Christina Tillman, CEO of Odd Molly.
In connection with the fall and winter collection, Odd Molly launched its first skincare product line to a very positive response. Skincare products still account for only a marginal share of the total order value, however. Odd Molly’s first company-owned store, in Stockholm, has soon completed two very positive opening months, but as a single store has little impact on the total order value.
Continued growth in most markets
The increase for fall/winter 2009 is reflected in most markets, both new and established. Growth is being achieved primarily thanks to documented sales volume in stores, in combination with a strong collection and continued sales and marketing efforts. In total, orders have been received from 35 countries.
Sweden continues to grow substantially and is still the largest market, with nearly 40 percent of the order value. Norway is the company’s second largest market, but is not reaching last year’s level. Germany has maintained a positive sales trend and is now the company’s third largest market, with several new high-profile stores. Italy continues to grow and the UK is developing strongly. As a whole, Odd Molly’s six largest markets account for slightly over 75 percent of the order value for fall/winter 2009.
In addition, a number of countries in Central Europe are performing very positively, including Switzerland and Belgium, while buyers in the U.S. remain restrictive. Odd Molly is continuing efforts to increase its sales and presence in the U.S. market.
Order value figures contain slight uncertainty compared with final sales due to future exchange rates and the solvency of individual retailers. After the order deadline, Odd Molly produces only enough of the upcoming collection to fill confirmed orders, thereby minimizing inventory and risk.
For further information, please contact:
Christina Tillman, CEO Odd Molly, phone: +46-8-522 28 502 or mobile: +46-733-10 60 00
Odd Molly International AB is obligated to publish the information in this press release in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was provided for public release on 8 April 2009 at 8.00 a.m. CET.
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www.oddmolly.com and click “sign up for our newsletter.”About Odd Molly
Odd Molly is a Swedish company which designs, markets and sells fashion for women 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 1,550 retailers and one company-owned store in 36 countries around the world, with local representation in 24 of them. Odd Molly has 35 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 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, Sweden, phone: +46 8 522 28 500