The story
In 1954, Ingemar Boman and Bengt Rosell opened the lingerie store Fynd in Alingsås. Shortly thereafter, the Lindex company of Gothenburg was acquired, and this was the name then given in time to all the subsequent stores. During the sixties the lingerie selection was complemented by women's wear, in particular jumpers and blouses. Operations were expanded and the first Lindex store in Norway was opened.
During the seventies Lindex continued to grow in Sweden and Norway. The assortment was expanded and Lindex also became known for skirts and trousers as well as kids’ wear. The eighties meant major changes for Lindex and the expansion reached record levels. Major changes occurred in the buying routines, since almost all textile manufacturing moved abroad. Lindex now tested new markets such as Denmark, Great Britain and Finland, but by the end of the eighties, operations were focused on Sweden, Norway and Finland.
In August 1993, IK Partners (formerly Industri Kapital) acquired Lindex from ICA, and Lindex opened its first production office in Hong Kong, initiating inspections to check that no child labour occurred at the suppliers. That same year, Lindex sold the fashion chain Gulins, with 770 employees, to the Norwegian Finansgruppen. The company's requirements on suppliers were increased and a code of conduct for all suppliers was introduced. During the nineties the company also started to make serious efforts with regard to environmental issues, in addition to the introduction of a loyalty card scheme - the Lindex Club. IK sold its stake in April 1995 via listing on the Stockholm Stock Exchange. At the end of the nineties the trademark Fix was acquired, with colourful kids’ wear.
The beginning of the 21st century was characterized by huge international expansion. Lindex looked east and started its expansion in Central Europe and opened stores in the Baltic States, the Czech Republic and Slovakia. In 2007 the Finnish listed company Stockmann became the new owner of Lindex and with their help the Russian market opened up for Lindex. In 2008 Lindex opened its first store in St Petersburg and the following year the first Lindex store in Moscow was opened. In 2009 Lindex opened its first store in Slovakia. During the 2010s Lindex continues to focus on Central Europe. Stores are opened in Prague and Bratislava. Lindex is now one of Europe's largest fashion chains with approximately 480 stores and a turnover of 650 MEUR.
From Wikipedia’s article on Lindex, shared under CC BY-SA 4.0.5