SWEDEN - Priveq's Hemtex increases market share in Sweden

Tine
16 February 2006

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Hemtex has demonstrated exceptionally strong sales development during the second half of 2005 and has further strengthened its position in the Swedish market for home textiles.

This is confirmed by the latest figures from the market research company GfK, which shows that Hemtex’s market share rose to 25.6 percent for the full-year 2005. This is an increase of 3.8 percentage points compared with 2004.

'The sharpest increase can be seen in bed linen, downs quilt/pillows, towels and also in blankets and rugs. We can also confirm that the average price of the products sold has risen,' says Hemtex president, Anders Jansson.

In 2005, Hemtex’s total sales in consumers operations (including franchise stores)increased by more than 22% in the Swedish market. A further 16 stores have been established compared with the preceding year.

Priveq Investment realised around one third of its investment in Hemtex through a listing on the O-list of the Stockholm Stock Exchange in October 2005. Priveq bought a 35% stake in the company for SEK 40m in a combined new issue/aquisition of existing shares transaction in January 2004.