Moods of Norway has lost 46 million in two years – Dagbladet.no

(Financial Newspaper): Colors, routes and tractor logo quickly became success when Peder Børresen and Simen Staalnacke Stryn launched her first fashion collection 13 years ago. In the peak year 2011, Moods of Norway profit before tax of nearly 100 million korner. In 2014 surplus turned into deficit, Finance writes newspaper Thursday.

Animals experience

Since then, the group has lost NOK 46 million before tax. At the top US venture cost the company dearly.

In 2015 turnover Moods of Norway for NOK 245.3 million, an operating loss of 30.9 million and a net income of NOK 23.3 million.

– It has never been in our nature to downshift, but the last two years we have closed many shop doors. With the acquisition of Brandstadmoen we now have access to 24 new stores, says Managing. Director Jan Egil Flo in Moods of Norway Finansavisen.

Moods boss, who is the third founder of the company, the last period worked diligently to reverse the negative trend.

Ensures themselves Brandstadmoen

Brandstadmoen came into the picture for approximately nine months ago, mainly because of the reduction of the wholesale business. The acquisition is the first in the Moods of Norway’s history. Flo is pleased that the acquisition can finally be made public.

– Brandstadmoen has like Moods of Norway lost tens of million in recent years. How will you make the operation profitable?

– We get a number of economies of scale. In addition, we will now make money in both laughed at many of the products we sell. So it is important to remember that the restructuring and new strategy is the cause of deficits in both Brandstadmoen and Moods of Norway in recent years. Both are in the final stages of this process, and there are only small grip and slightly better value required for that total goes in plus, says Flo Finansavisen.

Good mood is not enough

– the idea was to have 20 stores in the US in 2018, but that did not happen. We should have probably have added a better plan. Good humor is not always enough when to do business, says Flo.

Moods boss estimates that the loss of the US initiative from 2009 to this year about 50-60 million. The bulk was accounted for in the parent company in 2014.

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