Finland’s Stockmann changes name to Lindex Group

Finnish department store retailer Stockmann Oyj Abp has announced that it has officially changed its trade name to Lindex Group Oyj, a title that has been registered in the country’s trade register.

As such, the company will also be changing its ticker in the Nasdaq Helsinki’s trading system, with its current trading code of the share, Stocks, to be amended to Lindex.

Lindex had been mulling a name change for some time, with evidence of such a plan having already become apparent in October 2023, when it was revealed that the company would also be carrying out a strategic review.

At the time, a then Stockmann stated that the name change would reflect its Lindex subsidiary’s role in contributing to two thirds of its revenue in 2022, while noting that the shift would not impact its Stockmann department stores.

Chairman Sari Pohjonen added that Lindex had played a “fundamental role” in improving the group’s performance, calling both a name change and the exploration of strategic alternatives a “natural next step” in its strategy.

Through the review, the company said it would evaluate the “best environment for developing the business in the future”, such as increasing its independence within the group and considering possible new ownership changes.