Swedish retailers hit success in Norway

Swedish chain stores are thriving over the border in neighbouring Norway.

IKEA, H&M, Clas Ohlson and Lindex have made a profit of two billion Norwegian kroner over the last three years.

H&M alone made a record 1.1 billion NOK.

“We had a turn over of 4.1 billion SEK in Norway for the last financial year,” H&M’s Helen Webster told Norwegian business daily Dagens Næringsliv.

IKEA, according to SvD, 408 million NOK, Clas Ohlson 234 million whilst Lindex made 179 million NOK.

IKEA’s spokesperson Charlotte Lindgren puts the success down to strong Swedish leadership.

“We take Swedish managers with us when we expand abroad. That, and a strong concept, is the key to our success.”