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Odd Molly International AB (publ)
Stockholm, Sweden, September 24, 2013
The order value for Odd Molly’s spring and summer 2014 collection amounts to approximately SEK 120 million, which is SEK 25 million or 26 percent higher than the same collection last year. This is confirmation that the company’s revised brand strategy is working satisfactorily. At the same time the continued cautiousness and tough conditions in many markets have affected the outcome.
The total value of orders for the spring and summer 2014 collection has increased when measured in SEK, number of items and average order, which is a result of the company's conscious strategy to create a better price and product mix.
"Several factors are contributing to the positive trend," says Anna Attemark, CEO of Odd Molly. "The collection is more balanced, sales in stores are good, and we feel we have restored confidence in the market from a broad-based customer group. The work we have done to produce more distinctive collections and increase both the total and average order value is generating results, but we of course want to perform even better."
The order value for the spring and summer 2014 collection amounts to approximately SEK 120 million, compared with an order value of about SEK 95 million for the spring and summer 2013 collection.
"The order value is increasing, which is gratifying, but at the same time we are seeing continued cautiousness in many markets. After a previous downward sales spiral, confidence has been affected, and it is very important that we now show evidence of a turnaround at every level: among employees, buyers, landlords and shareholders. We are seeing the biggest increase in our home market, Sweden, which we see as a sign that the brand has strengthened," says Anna Attemark, CEO of Odd Molly.
The order value includes orders from external retailers in 21 countries as well as from the company’s own stores in Stockholm and Copenhagen, shop-in-shops and the web shop, excluding the customary retail markup. In addition, a small purchase of the most popular products has been made to facilitate add-on sales in season. In 21 countries Odd Molly is represented by agents or distributors. Odd Molly’s six largest markets account for 78 percent (77) of the order value.
After the order deadline, Odd Molly produces only enough of the upcoming collection to fill confirmed orders from external retailers and orders from Group-owned stores based on estimated sales volume, which reduces operational risk and tied-up capital. The remaining uncertainty regarding final sales is partly due to future exchange rates and partly to the solvency of individual retailers and size of added margins on sales through the Group’s own channels. These factors will continue to be closely monitored.Download pdf