Varner Gruppen expands operations in Finland

Leading Norwegian clothing retailer is aiming for 210 stores in Finland by the year 2015.

Norway’s leading clothing retailer Varner-Gruppen is expanding its operations in Finland. According to Varner-Gruppen’s CEO Marius Varner, the time is right for the company to focus specifically on the Finnish market.

Varner-Gruppen is aiming to have 100 Dressmann stores, 30 Carlings stores, 50 Cubus stores, and 30 Bik Bok stores in Finland by the year 2015. The latest Bik Bok store opened in the Kamppi shopping centre in Helsinki on 29 November 2012 and is aimed at fashion conscious young women.

Increased profits expected

According to Varner-Gruppen, its operating income in Finland increased from NOK 471.8 million in 2010 to NOK 524.5 million in 2011. The number of stores also increased from 71 in 2010 to 97 in 2011. The increase in operating income was due to Cubus’ entry into the market with 11 stores during 2011.

The company’s operating profit in Finland was NOK 18.2 million in 2011 and a significant improvement in operating profit is expected in 2012. Varner-Gruppen has 12 chain store concepts with a total of 1244 stores in 8 countries.

Sources: Kauppalehti, Varner-Gruppen