Swedish fashion firm to tap Chinese market

Wednesday - Jul 18, 2012, 01:38pm (GMT+5.5)

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Stockholm - Swedish clothing company J.Lindeberg is planning to open 50 stores in China in 2012 and 2013, a media report said.

Half of the company's total turnover would come from China by 2014 or 2015, J.Lindeberg's chief exclusive officer Stefan Engstrom was quoted as saying by the Swedish business daily Dagens Industri.

J.Lindeberg reported a turnover of 300 million Swedish kronor (about $43 million) in 2011, up from 260 million Swedish krono in the previous year, Xinhua reported.

According to Engstrom, the company is expecting to see a turnover of 400 million kronor in 2012 while maintaining profitability.

J.Lindeberg was founded in 1996 by fashion designer Johan Lindeberg.

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