Stockmann and Expert in joint venture

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Stockmann and consumer electronics chain Expert enters a partnership.

Expert replaces Stockmann’s consumer electronics offer by opening stores in Stockmann’s premises – and online..

The first store is planned to open in the flagship department store in Helsinki in May.

According to Stockmann’s new strategy, the future selection of Stockmann department stores and the online store will have a stronger focus on fashion, cosmetics, home products and food. But to keep and enhance the customer experience, Stockmann will complement its offering with attractive goods and services from tenants. The first tenant out will be consumer electronics chain Expert.

Stockmann is negotiating to lease retail space from its department stores to Expert ASA Oy. The plan is to open the first Expert store in the Helsinki city centre department store premises in May 2015. Later on, the aim is to expand the cooperation by introducing Expert stores in several other Stockmann department stores in Finland.

”Placing the inspirational customer experience at the core is the goal of our new strategy. We want to guarantee that Stockmann’s customers will continue to find a wide range of high-quality products under one roof,” says Björn Teir, Director of Real Estate at Stockmann, in a statement.

Due to the new partnership, Stockmann is planning to withdraw in stages, from April 2015 onwards, from its own electronics and home appliances product category, which is sold today in department stores in Finland and at Stockmann will continue selling, among others, small kitchen and beauty appliances.

Sales staff in the electronic departments at the department stores will continue in Stockmann’s payroll. In the buying and planning organisation the changes may lead to a reduction of less than ten employees.

”We wish to offer Stockmann’s customers an even more comprehensive range of electronics at competitive prices. The plan is to complement Stockmann’s Loyal Customer offers both in department and online stores and, starting from autumn 2015, also to take part in the Crazy Days campaign,” says Mika Aro, CEO of Expert ASA Oy.