PRESS RELEASE
Stockholm the 4th October 2007
Odd Molly is a Swedish company which designs, markets and sells fashion for women to external retailers around the world. Order deadline for spring and summer 2008 was this week and Odd Molly has received binding orders for the first six months 2008 for approximately MSEK 125 compared to MSEK 48.5 for the first six months 2007. This is an increase with 158 per cent compared to the same period 2007.Odd Molly is growing on both established as well as new markets. The increase in sales is further an effect from both higher average orders and increased number of retailers.
The strongest growth and the highest volumes are reported from Sweden, Norway and Denmark. We are very proud that the two very important fashion countries Great Britain and Italy have more than doubled their order volumes for the first six months 2008.
USA increased the order volumes more than 60 per cent for spring and summer 2008. Odd Molly has opened an administrative office and a subsidiary in USA during summer 2007 to manage all sales in USA.
After order deadline Odd Molly only produces the quantity of each article that has been ordered. Due to this business model almost no inventory is built up and inventory risk is minimized.
The four largest countries Sweden, Norway, Denmark and USA represent two thirds of the total order value for the first six months 2008.
Odd Molly has a wide network of independent retailers worldwide which minimizes risk. We are proud of being represented at leading stores like for example Fred Segal in USA, Selfridges in London, Galleries Lafayette in Paris, NK in Sweden, Isetan in Tokyo and many more. Odd Molly products are also sold at chain stores and department stores like Nordstroms and Anthropologie in USA and El Corte Inglés in Portugal, one of our new markets .
The forecast for 2007 is unchanged with a turnover of approximately MSEK 120 which corresponds to a growth of around 120 per cent and an EBIT of MSEK 15. Odd Molly will not give a forecast regarding 2008.
For further information, please contact:
Christina Tillman, CEO Odd Molly, phone: +46-8-522 28 502 or mobile: +46-733-10 60 00
Press pictures are found on the Odd Molly web page www.oddmolly.com under Press.
Coming reports:
Report for Q3 is published 30th October 2007
Odd Molly in brief
Odd Molly is a Swedish company which designs, markets and sells fashion for women to external distributors around the world. The brand’s signature is beautiful design, quality values and sensuality. The products are priced in the higher end of the mid price segment. The products of Odd Molly are distributed and sold in 33 countries, with local representation in 22 of those. Odd Molly has 22 employees. The turnover was MSEK 54.5 in fiscal year 2006 and the EBIT of the company was MSEK 4.9 during the same period. For fiscal year 2007 Odd Molly forecasts a turnover of approximately MSEK 120 which corresponds to a turnover growth of approximately 120 per cent and an EBIT of approximately MSEK 15.
The Odd Molly share is listed for trading on First North and the Certified Adviser is Swedbank.