After six years in Sweden, Nille is giving up the ghost and closing all 30 of its Swedish stores. The chain will concentrate on the Norwegian market.
The Swedish stores will close in January next year as part of a major conversion of the low price chain of shops, reported Finansavisen newspaper.
‘We have done a great deal of work internally, including pushing the brand, and product range development. Additionally, we’ve worked to make the shops more customer friendly, and become clearer in our market communication,’ said Johan Åberg, Managing Director of Nille
The decision to close down the Swedish stores was taken after the board’s annual report showed that it would take longer, and require more investment than had been initially assumed, to bring the Swedish business to an acceptable level of profitability.
After 20 good years since its founding in 1989, Nille has been somewhat worn-out since 2009. Last year, the entire board was replaced, and a new business strategy was implemented. The result appears to have paid off. In 2016, which the Board called a ‘transitional year’, Nille showed 53 million in pre tax profits, the first year of financial surplus since 2008.
Nille has 375 stores in Norway, and hopes to increase the number in 2018, including launching a new store concept on Karl Johans gate, the main street in Oslo.
© NTB Scanpix / Norway Today