Lindex agrees to Finnish offer

The board of Swedish clothing chain Lindex has agreed for the company to be bought up by Finnish department store owner Stockmann at a price of 116 kronor per share.

In a statement on Monday morning, the Lindex board said the bid was “reasonable from a financial perspective.”

The company has previously rejected a bid of 102 kronor per share from Swedish rival Kapp-Ahl.

The bid was received by Lindex’s board yesterday. The board said that Stockmann could “contribute to the further development and growth of Lindex in line with the strategy decided by the board.”

Lindex said that a recapitalisation process approved by the board last week would be continued in consultation with Stockmann. The process would result in 3 billion kronor being distributed to shareholders. Lindex said that if the bid from Stockmann was accepted it would call off the recapitalisation.

Kapp-Ahl said on Monday that it was abandoning its bid for Lindex. The offer had received “very limited acceptance” from Lindex shareholders by the time the offer period ended on September 27th, the company said.


Swedish fashion brand scraps plus-size range

Swedish clothing brand Lindex has decided to scrap its plus-size range and instead make all of its standard collections available in larger sizes.

Swedish fashion brand scraps plus-size range
A promotional shot from Lindex’s autumn/winter campaign. Photo: Lindex

From autumn onwards, Lindex’s previous plus-size range 'Generous' will no longer be available, with plus sizes integrated into the brand’s standard fashion lines. Its forthcoming autumn/winter campaign will also be fronted by plus-size models Ashley Graham and Candice Huffine alongside supermodels Alek Wek, Toni Garrn and Cora Emmanuel.

“We want women of all sizes to feel included and feel they can buy items from all our fashion concepts. This change will make our collections more inspiring and accessible to more customers,” Lindex head of design Annika Hedin explained in a statement.

There have been growing calls for the plus-size distinction to be scrapped entirely by the fashion industry, with critics arguing that it causes shame.

In 2014, Swedish chain H&M was criticized for labelling a model capable of fitting into their medium clothing as 'plus-size' in a catalogue. Former professional swimmer Emma Igelström said that by calling the model plus-size, the brand was “strengthening the idea that super skinny is the ideal”.

This isn't the first time that Lindex has gone against the norm. In 2014 one of the brand’s underwear campaigns caught attention when it featured employees in front of the camera instead of models.