(Finansavisen.en): the Normal group had a turnover of 1.6 billion
The first two, Norwegian Normal stores opened in Kristiansand in June of last year. Since the Danish chain established shops around the country at a furious pace.
Thursday open shop number 50 doors in Alta.
It has been relatively painless. We have many talented people around us and a fantastic head office in Denmark, ” says norgessjef Michael Eeg.
Together with Jesper Dønnestad Brandt, he owns 25 per cent of the Normal Norway. The Danish parent company owns the remaining 75 percent.
Two new shops will come to before the end of the year, and for 2019, the company has confirmed at least 13 new stores.
” We’re going to continue the growth. I shall be careful not to say a concrete number, but we believe there is space for between 80 and 100 shops in Norway, ” says Eeg.
Danish success
Normal-the adventure began in Denmark in 2013, when lavpriskjeden opened his first store in Silkeborg. In 2016 opened 51 new Normal-the shops doors in Denmark.
the Parent company’s major shareholder is the Bestseller-the owner and one of Denmark’s richest men, Anders Holch Povlsen. He bought the company in 2014, before he later increased its holding.
Torben Mouritzen, adm. director Normal in Denmark, was to establish the chain, and today owns between 10 and 15 per cent of the company.
Chain after the emergence in Norway also expanded to Sweden and the Netherlands. Normal-the group has now exceeded 150 stores in four countries.
We go a little bit against the flow in the business, and the seller fortunately, not textiles. I believe it has been a overetablering in the apparel industry over time, ” says Eeg.
the Business idea is to sell EU imported goods within a wide varesortiment, mostly consumer goods such as cosmetics, pet food and cleaning products.
Something of the range is fixed, but the stores also get around 100 new items each week. The chain markets itself among other things with slogans such as “just like border trade, only in Oslo”.
the Eeg believes that the Normal has hit well in the Norwegian market, because the chain sells brands norwegians know.
In addition, we sell exciting brands they may have bought on holiday abroad. Norwegians are happy to feel that they make a good buy, and we also sell things that many need to have.
That we are far below the others in price is of course also incredibly important, says Eeg.
Flipped milliarden
In regnska psåret 2017/2018 traded chain at the corporate level for 1,26 billion Danish kroner – over 1.6 billion Norwegian kroner at the current rate.
Normal went over to a different financial year in the last year, and 2017/2018 includes thus 1. august 2017 and by 31. July 2018. The figures are therefore not comparable with the year before.
The Danish newspaper stock Exchange wrote last week that lavpriskjeden noses at the public offering about two to three years. The main shareholder Anders Holch Povlsen did not want to comment on these information towards the newspaper.
Normal has been in the plus since the first year of operation, despite the rapid expansion.
operating profit for the group ended at 49 million Danish crowns and profit before tax was 33 mi llioner Danish Betnano kroner in the year-ago quarter.
“the Profit for the year are satisfactory, not least with regard to the massive expansion and oppstartskostnadene for the new stores and markets”, is called in the parent company’s annual report.
the Company owns all the stores himself, Eeg believes helps to keep the prices down.
– We have good buyers in Denmark, in addition to a very small organization, he says.
The Norwegian company operates with a different financial year, and the Eeg do not want to comment on the financial statements that ended 31. July in the year in detail.
– It has gone very well, and we have managed to make money in the establishment phase, ” he says.
