NEW YORK, May 20, 2015 /PRNewswire/ -- Lexington Clothing Company, the Stockholm-based lifestyle brand, will be expanding in the United States with a New York City location and seeking a new US wholesale distribution partner for the fourth quarter of 2015.
As part of the ongoing expansion plan, Lexington Company has been listed on Nasdaq, First North Stockholm earlier this year. The IPO was oversubscribed 21 times and the introduction was successful with a stock price increase of over 60% the first day on the Market. This has made it one of the most successful lifestyle brands IPOs in Sweden. "After 17 years of continuous profitable growth, the Company decided to go public in order to increase growth rate even further in the future," says CEO, Tommy Lindhe.
The brand has seen a steady growth through their three US concept stores since opening in 2012. Each of these locations have been welcomed into the local marketplace and now the brand is enjoying steady sale increases of Lexington products; online highlights include premium bedding, home accessories and fashion. Now is the time to develop a presence in the wholesale market through department stores and specialty boutiques throughout the Northeast. "We are excited for this new phase of development in the US market and currently seeking the right partner to help develop the brand direction at the wholesale level. It is a wonderful opportunity to collaborate and make a larger impression in the US marketplace," says Kristina Lindhe, Founder, CEO and Creative Director of the Lexington Clothing Company.
Founded in 1997, Lexington Clothing Company has 20 owned concept stores and 36 franchise freestanding stores in 5 countries. It is sold at over 900 stores in more than twenty countries on four continents, with leading department stores Harrods and Selfridges, House of Fraser in the UK, El Corte Ingles in Spain, Lotte in Korea, Stockmann in Finland, and Illum Bolighus in Denmark.
SOURCE Lexington Clothing Company