Swedish Underwear Company Dissolves China Operations

Stockholm-based underwear company Björn Borg is exiting the China market.

The company says its operations in the Chinese market have not developed as expected and the company does not believe that its local partner can contribute to achieving the established goals. Against this background a decision has been made to discontinue Björn Borg's operations in China in 2013.

The discontinuation is not expected to have any significant financial consequences for the Björn Borg Group beyond the operating losses already planned for the current year. As of 2014 the company no longer anticipates any expenses related to China.

Björn Borg decided in late 2011 to launch sales in China in cooperation with a local partner and since fall 2012 has been active in the country through a company with Björn Borg as principal owner holding a reported 75% stake.

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