The new store at Drottninggatan 72 spans approximately 400 square meters and follows the company's latest concept. Inside, visitors are greeted by an environment characterized by bright surfaces and Scandinavian design.
It feels very exciting to finally open our new store on Drottninggatan. This is an important investment and a natural step in our continued development, says Ingvar Larsson, CEO of MQ Marqet.
With the new store, we want to create an inspiring environment where customers can discover our range and services, receive personal service and experience the best of MQ. We are now really looking forward to welcoming all our current and new customers to our new store.
Financial Situation and Savings
The establishment takes place against a backdrop of economic challenges for the company. During the last financial year, MQ Marqet reported a turnover of approximately SEK 1.2 billion, which represented an increase of 1 percent. At the same time, the operating result turned into a loss of SEK -17.9 million, compared with the previous year's profit of SEK 32.7 million.
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To turn the figures around, a savings program of SEK 28 million has been initiated, which has included the closure of a production office in Turkey. Despite the strained profitability, the bottom line landed on a profit of SEK 300,000 after accounting adjustments.
Digital Growth in the Nordics
While the store network is being reviewed, the digital business is growing. MQ has recently expanded its e-commerce to also include Finland and Denmark. In addition to its own sales online, the chain's range is available via Zalando in eight markets within the EU.
This combination of physical flagship stores and a broadened e-commerce is seen as the way forward to achieve a stronger position in the market.
The new store opens to the public on Friday at 12 noon.