Björn Borg decided in late 2011 to launch sales in China in cooperation with a
local partner and since fall 2012 has been active in the country through a
company with Björn Borg as principal owner (75 percent). As announced in Björn
Borg’s latest interim report, the operations in the Chinese market have not
developed as expected and the company does not believe that the local partner
can contribute to achieving the established goals. Against this background a
decision has been made to discontinue Björn Borg’s operations in China in 2013.
The discontinuation is not expected to have any significant financial
consequences for the Björn Borg Group beyond the operating losses already
planned for the current year. As of 2014 the company no longer anticipates any
expenses related to China.
For further information, please contact:
Fredrik Lövstedt, Chairman of the Board, mobile +46 708 595480,
Arthur Engel, CEO, mobile +46 701 813401, firstname.lastname@example.org
Björn Borg is required to make this information public in accordance with the
Financial Instruments Trading Act or the Securities Market Act. The information
was released for publication on September 3, 2013 at 08:30 am (CET).
About Björn Borg
The Group owns the Björn Borg trademark and its core business is underwear. It
also offers sportswear and fragrances as well as footwear, luggage & bags and
eyewear through licensees. Björn Borg products are sold in around thirty
markets, of which Sweden and the Netherlands are the largest. The Björn Borg
Group has operations at every level from branding to consumer sales in its own
Björn Borg stores. Total sales of Björn Borg products in 2012 amounted to around
SEK 1.6 billion, excluding VAT, at the consumer level. Group net sales amounted
to SEK 551 million in 2012, with 139 employees. The Björn Borg share has been
listed on NASDAQ OMX Nordic in Stockholm since 2007.
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