Odd Molly co-CEO steps down, stays on as advisor

Swedish fashion retailer Odd Molly has announced that its co-CEO Sara Fernstrom has stepped down from her position but will remain in an advisory role at the company.

Fernstrom is staying on to help the company finalise additional new territory operators the company claims are under way and will work closely with the chairman of the board to have them successfully completed.

The company said she would be spending approximately half of her time on Odd Molly and the other half on other pursuits, including her work at licensing and brand management company Lyft Brands Group, of which she is a majority owner.

Current CFO Johanna Palm is replacing Fernstrom and will oversee Odd Molly in Sweden and its international sister companies.

During her time at Odd Molly, Fernstrom lead the initiative to convert the global distribution and successfully converted several markets into a licensed model including Spain, Portugal, Germany, Austria, Czech Republic, Slovakia, Hungary, United States, and Canada. Fernstrom also lead the realignment of distribution worldwide and increased focus on strengthening brand equity. In line with this strategy, Odd Molly opened new stores in NK and El Corte Ingles department stores both operated by external partners. Additionally, Fernstrom created a new brand management structure within the company to oversee the new business model.

Commenting on the move in a statement, Fernstrom said: “This is an exciting time for Odd Molly and for me personally. I am proud of having created a better structure for this company, this brand and this culture. My new role will allow me to provide mentorship and advice to the team at Odd Molly and will also give me an opportunity to pursue other interests and passions within and beyond the industry. I am grateful to Patrik Tillman for the leadership and support he has shown to me during my time at Odd Molly.”

As of March 31, 2019, Odd Molly had 14 own stores in Sweden, Norway and Finland, a separate web shop and seven partner-run stores in the US, the Czech Republic, Portugal, Sweden and Slovakia. The retailer’s clothing is sold in about 40 countries around the world.

Photo credit: Odd Molly