It has occurred several times recently. Now, another Swedish company chooses to establish operations outside Sweden and this time it is the brand MQ. The establishment will take place after the summer and this time Norway is in focus, with the goal to eventually enter the rest of Scandinavia.
A trend in previous international establishments has been to establish on markets close by. MQ follows the trend at the moment and opens its first store abroad in Oslo. This is a step for growth, the clothing chain's goal is to become a leading brand on the Nordic market.
In Sweden there are already 106 stores. Norway is an attractive market not only for Swedish companies but also for other companies around the world. There is great potential and the Norwegians are happy to spend money on, for example, clothes.
Another trend in foreign start-ups is to establish a business in a big city. Oslo offers a huge consumer market. Johan Elfner, CEO of MQ, said in a press release:
- We have a stable platform with a well-functioning network of stores in Sweden and an effective organization. Now, we are ready for a new market and we have found a great location in central Oslo as a first step to launch our brand concepts outside Sweden.
Many Norwegians are already familiar with MQ primarily through the establishments we have in western Sweden, but also thanks to the mix of private and well-known international brands that MQ offers.
The focus right now is on the Oslo region, but establishments in other parts of Norway are possible.
- According to our evaluation, there is potential to establish up to 40-50 stores in Norway in the long run. There are obviously a number of participants already - but I believe that there is potential for our range of quality brands for men and women. We will continue to grow wisely and profitably, and evaluate each step in our expansion,” Johan Elfner continues.
To expand overseas is a long-term investment and the next goal is Helsinki but not right now.
Cecilia Helland