2016/2017 2015/2016

RETAIL GUIDE GUIDE SWEDEN SWEDEN MALMÖ STOCKHOLM GOTHENBURG MALMÖ

6th

most rld’s 6th The wo tive economyd competi g to the Worl accordin ic Forum Econom

SWEDEN AT A GLANCE • Top performing economy in Europe • Largest market in the Nordic region • Strong retail sales growth for 19 consecutive years • Wealthy consumers with high purchasing power • Population growth and a large, well-educated middle class • Recognised as a trendsetting and progressive country • Sophisticated consumers, early adopters • Strong appetite for new international retail brands • Well established test market • Availability of attractive retail space • Transparent market and easy to do business

4

Luts'k

L'viv

Tern

Content

WELCOME TO SWEDEN We are glad that you picked up this publication, since it means you are interested in learning more about retail opportunities in Sweden. The purpose of this guide is to give an overview and assist you in evaluating an entry into this dynamic Swedish market. Sweden stands out from the crowd and outperforms the rest of Europe in many key areas such as economy and competitiveness. Equally important, we are a nation of high-income earners with a large share of spending on retail and food & beverage. Swedes are also recognised as widely travelled trendsetters who are innately curious about new international brands and products. And since the purchasing power is one of the highest in Europe, they have everincreasing means to satisfy that curiosity. Many new international brands have already discovered the potential but there is room for many more. The share of international retailers in Sweden is low compared to markets in the rest of Europe.

Sweden 4 THE NORDICS 6 SWEDEN OVERVIEW 10 THE SWEDISH RETAIL MARKET 15 THE SWEDISH CONSUMER 17 SHOPPING TOURISM 18 FOODIE NATION WITH GREAT TASTE 19 GOOD SUPPLY OF RETAIL SPACE 20 EXCELLENT LOGISTICS HUB 21 SWEDISH INVESTMENT MARKET 22 E-COMMERCE IN SWEDEN 25 ESTABLISHMENT FACTS 26 A-Z GUIDE TO SWEDEN

Stockholm 28 STOCKHOLM OVERVIEW 32 LARGEST SHOPPING DESTINATIONS 34 SHOPPING CENTRES 36 KEY RETAIL AREAS CITY CENTRE 38 UNDER DEVELOPMENT

Gothenburg 40 44 46 49

Sweden stands out from the crowd and outperforms the rest of Europe in many key areas such as economy and competitiveness. This guide will chart retail opportunities in Sweden’s three largest city regions – Stockholm, Gothenburg and Malmö – and provide hard facts and information about the market, demand and supply. It has been developed in joint collaboration between the national trade and investment council Business Sweden, the regional investment promotion agencies of Stockholm, Gothenburg and Malmö and the Stockholm City Center Partnership. Among the partners are CBRE, the Stockholm Property Association, property owners and consultants. Please contact us for advice, networking contacts and establishment support – free of charge and in full confidentiality – to assist you further in evaluating the opportunities and setting up a successful business in Sweden. Please see contact details at the back.

GOTHENBURG OVERVIEW LARGEST SHOPPING DESTINATIONS KEY RETAIL AREAS CITY CENTRE UNDER DEVELOPMENT

Malmö 50 54 56 58 61

MALMÖ OVERVIEW LARGEST SHOPPING DESTINATIONS CITY AREAS KEY SHOPPING STREETS CITY CENTRE UNDER DEVELOPMENT

Let us assist you 59 CONTACT INFORMATION

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THE NORDICS TOP OF LEAGUE OUTPERFORMING EUROPE Sweden is the very epicentre of the Nordic region, being the largest market, financial centre and hub for business in the region. Together the Nordic countries – Sweden, Denmark, Finland and Norway – make up the 11th largest economy in the world, consisting of 26 million inhabitants. The Nordic model – one region, four countries Some consider them small nations up north but in fact, the Nordics are continuing to outperform the rest of Europe, showing higher scores on practically every chart and ranking one cares to construct. The four countries are tied together historically through collaboration and many similarities – political visions, social security and cultural traditions – even language (except for Finnish). This has been internationally labelled as the “Nordic Model” – a hybrid system with its mix of social welfare benefits, openness and high-tech capitalism, which has made the region a highly attractive place for both living and doing business. Add to that security, transparency and lack of corruption. Transparency International ranks all the Nordic countries as the least corrupted societies in the world from 1st to 5th place, out of 177 countries. Each country in the region also exhibits significant differences, meaning that one size of business strategy does not fit all markets. These differences are reflected in in rules and regulations, ways of doing business, consumer behaviour, taste and preferences as well as the retail market structure and presence of foreign companies.

PRIVATE CONSUMPTION AND RETAIL DEVELOPMENT 2016 (F), %

High performers in an international perspective The Nordic economies, and especially Sweden and Norway, have shown strong development in recent years. The region has stood out from the rest of the developed world with its strong macroeconomic fundamentals. Low sovereign debt, transparent economies, a well-consolidated banking system and consumers with sound personal finances, produce a combination of stability and growth potential. However, developments in the Nordic economies are far from uniform. While Sweden, Norway and Denmark have stable economic growth, Finland is still recovering from recession. Comparing wealth with price levels Norway stands out with a GDP significantly higher than the rest of the Nordics and Europe, largely due to Norway’s abundance of oil. But one should also take into consideration that Norway is one of the most expensive countries to live in, with 52 percent higher prices on goods than the EU average. The Norwegians actually flock to Sweden to shop. Swedish consumers have the second highest GDP per capita in the Nordics and 24 percent higher than the European average, yet prices are not as high.

GDP DEVELOPMENT AND FORECAST, %

4.8 4.2 3.6 3.0

2.6 2.1

2.0

1.6

0.2

1.5 2.2 1.2

1.5

1.2

0.4

Sweden

Norway

Denmark

Finland -1.6

Denmark

Finland

2015

2017 (f)

Source: HUI

Source: Gfk

Swedish household consumption is continuously strong, and a main contributor to growth in the economy. Retail sales in Sweden and Denmark are strong, while Norway will probably see negative growth in 2016. Finland’s retail market is still struggling but will probably see positive growth during 2015/2016.

4

Norway

1.1

2016

-2.8

Private consumption Retail development

Sweden

0.5 0.7

Sweden has the brightest future among the Nordic countries when it comes to GDP growth. Consumer trust is trending upwards in Norway. Denmark has weak but positive GDP growth. Finland’s retail market is still struggling and will continue the negative growth during 2016.

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

Sweden

way N or

NORWAY

SEK

Finland

Sweden received the highest marks among all countries for perception of an effective government, and ranked second among respondents for appealing environment and in the nature of its advanced economy. It is seen by many as safe and welcoming. -Reputation institute 2016

439 billion

Helsinki

Oslo

Retail turnover

Stockholm

FINLAND

5.3 million inhabitants 82,830 SEK/capita

SEK

DENMARK

5.7 million inhabitants 74,385 SEK/capita

5.5 million inhabitants 67,454 SEK/capita

m a rk

424 billion

Retail turnover

De n

SEK

SEK

9.9 million inhabitants 71,212 SEK/capita

Inhabitants Stockholm

924,000

79.4

69

Oslo

659,000

81.7

80

Copenhagen

583,000

59.3

74

Helsinki

628,000

75.9

63

Price levels incl. rent*

*New York = Index 100, The price level rankings reveal the relative cost of goods and services worldwide. Source: UBS PURCHASING POWER PER CAPITA Nordic countries, 2015/2016 Purchasing power per capita, SEK

European index*

Norway

292,935

221

5

Denmark

216,587

167

8

Sweden

204,301

156

10

Finland

179,373

142

3

705 billion

Retail turnover

Purchasing power Net annual income

Country

SWEDEN

Copenhagen

PURCHASING POWER PER CAPITA Nordic capitals, 2015

Rank, Europe

371 billion

Retail turnover

PRICE LEVELS VS. GDP PER CAPITA - EUROPEAN RANKING (Index 2015)

EU-28=100

Price level

GDP per capita

Switzerland

148

162

Norway

136

163

Denmark

124

124

Sweden

121

123

Iceland

120

124

UK

118

110

Finland

115

108

Luxembourg

111

271

Ireland

105

145

Austria

102

129

*European average = 100 Source: Eurostat

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

Source: Eurostat

5

International companies are attracted to Sweden for numerous reasons. The country is a global leader of innovation with a highly skilled labour force, sophisticated consumers, smooth business procedures, openness to international ownership and a stable economy.

SWEDEN STANDING OUT FROM THE CROWD 6

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

Photo: iStockphoto

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

7

KEY FACTS SWEDEN

Kiruna Population 2016, million

9.9

GDP growth 2015, %

3.8

GDP growth 2016, %

3.4

GDP growth 2017 (f)%

2.8

Inflation (Sep 2016)

1.1

Retail sales growth 2015. %

4.5

Retail sales growth 2016 (f), %

4.8

Unemployment rate Q1 2016, %

6,3

Repo interest rate

Luleå

-0.5

GDP per capita 2016

SEK 439,437

Disposable income per capita

SEK 260,602

Total consumption per capita

SEK 218,264

Retail sales per capita

Skellefteå

SEK 69,155

Corporate tax rate

22%

Swedish krona, SEK/Euro (average 2015)

Umeå

9.3

Swedish krona, SEK/$ (average 2015)

8.3 Source: SCB / OECD Östersund

Sundsvall

Gävle/Sandviken Borlänge

Uppsala Västerås SWEDEN’S LARGEST CITY REGIONS

Population 2015

Growth from 2014, %

1

Stockholm County

2,231,439

1.5%

2

Göteborg (greater region)

982,360

1.2%

3

Malmö (greater region)

695,430

1.2%

4

Uppsala

210,126

1.3%

GOTHENBURG

5

Helsingborg/Landskrona

181,870

1.6%

Borås

6

Linköping

152,966

0.7%

7

Västerås

145,218

1.0%

8

Örebro

144,200

1.1%

Halmstad

9

Norrköping

137,035

1.3%

Helsingborg /Landskrona

10

Jönköping

133,310

0.8% Source: SCB, 2016

8

Karlstad

Örebro Eskilstuna

Norrköping Linköping

Jönköping

Lund MALMÖ

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

Kalmar

Karlskrona

STOCKHOLM

TOP 10 MOST COMPETITIVE WORLD ECONOMIES

1

Switzerland

2

Singapore

3

United States

4

Netherlands

5

Germany

6

Sweden

7

United Kingdom

8

Japan

9

Hong Kong

10

Finland

Source: The global competitiveness report 2016-2017

DEMOGRAPHY – AGE STRUCTURE, 2015, % Sweden and the three largest city regions SWEDEN

STOCKHOLM

15%

21%

20%

22%

9%

8% 25%

25%

26%

26%

GOTHENBURG

MALMÖ

15%

15%

19%

10%

AGE



 0–17  45–64

9%

22%

32%

32%

21%

3%

33%

 18–24  25–44  65+    Source: Handeln i Sverige

TOP 10 COUNTRIES IN EU GDP PER CAPITA IN PPP, SEK

Ireland Finland

557 544

Netherlands

432 153

Austria

411 726

Germany

404 277

Denmark

398 738

Sweden

397 411

Belgium

374 776

UK

350 833

Finland

346 922 Source: OECD

20,600 19,700

Highly competitive and progressive nation Despite the relatively small population, Sweden consistently ranks as one of the most competitive, productive and globalised countries in the world. Its business community continues to demonstrate the ability to take on new ideas and to innovate, adapt to changing business conditions and compete in an international setting. The fact is that Sweden is the birthplace of Alfred Nobel, one of history’s most successful entrepreneurs, and home to many large multinationals such as IKEA, H&M, Ericsson and Volvo, but also to innovative start-ups that have achieved global success, such as Skype, Spotify and Klarna. Looking at Sweden’s dominance in the Nordic marketplace reinforces attractiveness of retail investments. Sweden has the largest population and the largest retail market, and receives as much foreign direct investment as the Nordic and Baltic countries together. Of all the Nordic countries, Sweden has the highest level of retail attractiveness when it comes to establishing new business ventures, and international retailers continue to selectively expand in the Nordic region at a slightly faster rate than in Europe’s key cities at an aggregated level. Sweden’s central location and strategic gateway to Northern Europe have also made it a natural logistics hub and place for consolidated business in the region. Growing population Sweden’s population is 9.9 million and the country has enjoyed steady population growth over the past 21 years, especially in urban areas, due to net immigration, increasing birth rates and lower mortality. The trend is only expected to continue. The annual population growth rate today is 1.1 percent, compared to the EU 27 average of just 0.3 percent. The majority of the population lives in the middle and southern parts where the largest cities – Stockholm, Gothenburg and Malmö – are situated. The largest increase can be found in the capital Stockholm. The levels of immigration mean that the population is highly diverse, with people from different cultures. Wealthy middle class with one of the highest levels of purchasing powers in Europe Disposable income and private consumption growth are stronger than in most other European countries. There is a large middle-class segment with high spending power, and the difference between high and low-income households is low. Put simply, Swedes are wealthy and 80 percent of the population earns 75 percent of total income.

Sweden is in good financial shape • Public finances are balanced • GDP growth is solid • Employment levels increasing • Interest rate low • Consumer confidence high • Purchasing power high • Retail sales growing

9

THE SWEDISH RETAIL MARKET IMPRESSIVE GROWTH AND STRONG DEMAND

More on p.17

More on p.22

RETAIL SALES PER SEGMENT, 2015

Strong retail sales growth in Sweden The Swedish retail market has enjoyed positive annual growth for 20 consecutive years, fuelled both by steadily increasing population growth and rising disposable income. The 2nd quarter of 2016 was also the strongest seen in the last 17 quarters. In the 1st quarter of 2016, retail sales grew by 4.5 percent over 2015 and are expected to grow by 4.8 percent by the end of 2016. Sales are also strongest in the largest city regions. Growth in both private consumption and retail sales is stronger in Sweden than in almost any other European country and is forecast to outperform most other countries. Swedish consumers have increased their retail spending for more than a decade and retail sales account for some 33 percent of total household expenditures. Adding in Food & Beverage, the share is almost 40 percent. Another driver of retail sales growth is the increasing shopping tourism. (See Tourism section, page 17.)

640 SEK billion

(¤73 billion) Daily goods: 45% Construction and building materials: 5% Electronics: 7%

Strong growth in e-tailing The strong growth in e-commerce of goods continues with total sales of SEK 50 SEK billion in 2015, an increase of 19 percent. This kind of growth rate hasn't been seen since 2007, and the main factor behind it is increasing digitization. Online sales amount to 7 percent of total retail sales and about one third (40%) of the Swedish population makes at least one purchase online every month. Consumer electronics, clothes and books top the list. Traditional store retailers are increasingly complementing their store sales with online sales. Consumers are choosing to shop from international sites to a greater extent, preferably fashion. (See e-commerce section, page 22.)

Clothing: 8% Daily goods: 45%

Home furniture: 4%

Construction and building materials: 5%

Sport & leisure: 3% Other: 28%

Electronics: 7% Clothing: 8% Home furniture: 4%

Source: HUI, 2015

Sport & leisure: 3% Other: 28%

RETAIL SALES AND GDP DEVELOPMENT, 2007-2017, %

6.6

6.0

3.4

4.2

3.7

3.6

3.4

5.8

3.4 2.7

2.1

2008

–0.6

2009

2010

2011

3.6

3.5

3.0

2.3

2.0 1.2

0.8

2007

4.0

2012

–0.3

2013

2014

2015

2016

2017 (f)

Retail sales –5.2

Source: HUI

2013

Strong retail sales growth even during the few years of financial downturn.

GDP growth

10

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

RANK - TRADING ACROSS BORDERS

Demand within many segments There is a welcoming attitude in Sweden, both among consumers and property owners, to concepts that add diversity to the retail market structure. The fact that Sweden has four distinct seasons, for example, creates a demand for a wide range of products and services related to the home and to leisure activities. Swedes are also characterised by a love of outdoor activities, sports and other healthy pursuits. Showing off your perfectly decorated home with a newly renovated kitchen and bathroom and inviting your friends over for dinner is equally important. Simultaneously though, Swedes are spending an increasing amount of money on going out to eat and drink The Food & Beverage sector has grown rapidly in 2016. (See Food & Beverage section.)

19

More on p. 18

consecutive years of annual retail sales growth E-COMMERCE SALES, 2007-2016, SEK BILLION 20.4 25.0 31.6 42.9 58 17.7 22.1 27.7 37.0 50 E-COMMERCE SALES, 2007-2016, SEK BILLION 20.4 17.7

25.0 22.1

31.6 27.7

42.9 37.0

1

Singapore

2

Hong Kong

3

Republic of Korea

4

Sweden

5

Ireland

6

Estonia

7

Denmark

8

Panama

9

United Arab Emirates

10

Malaysia

Sweden is ranked the 4th best country in the world when it comes to cross-border trade. Source: KNOEMA

40%

58 50

of total household expenditure is spent on retail and F&B

2008

2009

2010

2011

2012

2013

2014

2015

2008

2009

2010

2011

2012

2013

2014

2015

PRESENCE OF INTERNATIONAL RETAILERS

2016 (f) 2016 (f)

2007 2007

E-commerce sales are expected to reach SEK 58 billion by 2016 Source: E-barometern

Mainstream Stockholm is the springboard for retailers into the region and has the highest presence of international retailers compared to its Nordic peers, followed by Copenhagen, Oslo, Malmö, Gothenburg and finally Helsinki.

1

Stockholm

2

Copenhagen

3

Oslo

4

Malmö

5

Gothenburg

Source: JLL, 2015

6

Helsinki

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

Premium

Luxury

11

Recent International retail brand entrants – a selection

  Mature but vibrant retail market The Swedish retail market is well developed and dominated by a small number of large chains. This is especially true of high-volume clothing, furniture and food retail, where it is common for several different chains to have the same owners. Swedish H&M is the third largest clothing retailer in the world and IKEA the world’s largest furniture retailer. The success of these two multinationals illustrates that the Swedish retail market is mature and innovative, and can compete well in the international market. Opportunities in most retail segments Sweden is well suited to new retail concepts and there are opportunities in most segments. The market is largely unregulated and open to international retailers. However, as the global retail industry has expanded rapidly into new markets, the Swedish and Nordic markets have remained relatively untapped by international retailers. Traditionally, the country has been dominated by domestic and Scandinavian brands, but in recent years new brands have entered the market with further expansion plans. There have been a number of new openings over the last five years. Examples are Aesop, Celine, Disney Store, Lindt, MAC, 3ina, Pull & Bear, Reima, Starbucks and Tesla. In addition, food and beverage players are also entering the market. For example, the US coffee giant Starbucks has expanded across Sweden. Jamie Oliver’s Italian, Lindt, Joe & the Juice, KFC and Dunkin' Donut have also entered the Swedish market.

12

Photo: Mikael Sjöberg

Photo: Jeppe Wikström

Aesop American Vintage Apple Stores Calzedonia Celine Chanel Claire's Decathlon Disney Store Dunkin' Donut Hamleys Hollister Hunkemöller Intimissimi JD Sports Joe & the Juice Kiko LEGO Store Lindt MAC Oysho Picard Pull & Bear Reima River Island Sephora Starbucks Superdry Stella McCartney Tesla Victoria's Secret XXL Sport Zara Home 3ina

There has been a number of new openings over the last five years. Examples are Aesop, Celine, Disney Store, Lindt, MAC, 3ina, Pull & Bear, Reima, Starbucks and Tesla.

Market structure and sector trends in Sweden is dominated by the Swedish chains ICA, Coop and Axfood, but competition from discount grocery players like German Lidl and Danish Netto is increasing.

the grocery market

the pharmaceutical market was deregulated in 2009. Since then, a number of new players have entered the market and more pharmacies have opened, like Celecio with LloydsApotek.

Photo: Staffan Eliassson

Photo: Tuukka Ervasti

the sports and leisure sector is a good example of how increased international competition is changing the local market. With the recent arrival of the retail chains XXL (from Norway) and Decathlon (from France), the market is becoming more competitive, with a focus on both low prices and a broad selection.

13

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

Photo: Simon Paulin

Photo: Susanne Walström

14

Photo: Tuukka Ervasti

Swedes are recognised both for setting new trends and rapidly adopting them from abroad. They travel widely and thus expand their minds culturally.

THE SWEDISH CONSUMER CURIOUS AND PROGRESSIVE TRENDSETTERS both for setting new trends and rapidly adopting them from abroad. They travel widely, expanding their minds culturally, exposing themselves to many different cultures, and cultivating a taste for new brands and experiences, which they love to test against their own high standards. Swedes are also demanding buyers who value function and quality as much as design and branding in purchasing decisions. As consumers, these globalised and curious Swedes with urban lifestyles embrace newness, are eager to try new concepts - both setting new trends and rapidly adopting them from abroad. This national mindset has led many players to use Sweden as a testing ground for new products and services. For example, Michael Kors, Coca-Cola, Diesel, Microsoft swedes are recognised

and Apple have all used Sweden for early commercialisation projects. The use of social media and mobile communication is high and Sweden has the highest penetration of internet users in the world. Consumption patterns reflect both equality and individuality. Alternative lifestyles and relationship patterns are tolerated and welcomed. New movements in fashion, music or design are often communicated through media, blogs and personalities. According to the World Value Surve­y­, Sweden is one of the most individualised and secularised countries in the world. This makes its consumers different from any other country – while at the same time remaining a homogeneous group.

Sweden is one of the most individualised and secularised countries in the world.

Photo: Ola Ericson

Photo: Nicho Södling

- World Values Survey

Tourism facts

90

SEK billion

Tourism facts

282

SEK billion

in total consumption from tourists (+7% since 2014). Foreign consumption in Sweden has increased three times as much as domestic consumption.

Photo: Simon Paulin

is what foreign visitors spent on restaurants and lodging in 2015, a total of 32 percent. Since 2000, foreign consumption has grown by 177 percent.

Tourism facts

16

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

60 million

overnight stays, of which 15 million are international. Shopping is the largest expenditure, at 49 percent of total consumption.

LARGE INCREASE IN SHOPPING TOURISM

Did you k

now

... ...that 80 percent of all transactio ns in Swed en are made by cards. Sweden m ight very w ell be the firs t cash-fre e society in the near future .

Record volumes and record shopping expenditure fuel Swedish retail sales. in its largest cities and its five-star culinary experiences, Sweden is gaining the attention of travellers from around the world. A new record was set in 2015 when 60 million commercial overnight stays were recorded, the largest increase originating from non-European countries like China, USA and India. The capital Stockholm attracted most visitors with 13 million overnight stays. An increase of 38 percent from 2008.   The fact that tourism is the fastest growing industry in Sweden has had a significant impact on the retail and shopping culture. Revenues from international visitors have more than doubled in the last five-year period, and visitor volumes have increased faster than the European average. This trend can be observed in the capital city, where luxury brands compete for the affluent traveller’s attention on Stockholm's high streets. Shopping and product purchases was the largest single expenditure for international visitors – SEK 52 billion. FOREIGN VISITORS CONSUMPTION IN SWEDEN, 2015

Photo: Jeff Sheldon

with the fashionable lifestyle

Thousand overnight stays

TOP COUNTRIES VISITING SWEDEN

Source: Swedish Agency fo

OPPING SH

112

SEK billion (¤11 billion)

Norway

3,483

(+6.7%)

Germany

2,929

(+5.2%)

Denmark

1,200

(+10%)

UK

771

(+16.1%)

Netherlands

658

(+7.5%)

Finland

572

(+6.7%)

USA

533

(+5.8%)

Switzerland

358

(+16.1%)

France

310

(+6.1%)

Poland

283

(+19.5%)

Restaurants & Lodging: 25% Restaurants & Lodging: 25% Product purchases: 46% Product purchases: 46% Travel & transportation: 13% Travel & transportation: 13% Fuel: 8% Restaurants & Lodging: 25% Fuel: 8% Culture & recreation: 6% Culture & recreation: 6% Product purchases: 46% Other: 1% Travel & transportation: 13% Other: 1%

Source: Swedish Agency for Economic and Regional Growth

Fuel: 8% Swedish Agency for Economic and Regional Growth Source:

Source: Swedish Agency for Economic and Regional Growth Culture & recreation: 6% Other: 1%

: Swedish Agency for Economic and Regional Growth 1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

17

Photo: Tina Stafrén

Photo: Graphicstock

FOODIE NATION WITH GREAT TASTE The all-pervasive Swedish interest in food and beverage experiences continues unabated. Food innovators are gaining an international reputation, and consumers are dining out like never before.

W

Cafés/ Coffee shops: 7%

H

119

Hotel restaurants: 11% Workplace restaurants: 5%

C

R

SEK billion

F

(¤12 billion)

Entertainment venues and bars: 14%

Restaurants: 45%

Roadside restaurants: 7% Fast food restaurants: 13% RESTAURANT TURNOVER 2003-2014 MILLION SEK (INCLUDING VAT) RESTAURANT TURNOVER 2003-2015

MILLION SEK (INCLUDING VAT)

100 000

80 0000

60 000

2015

2014

2013

2012

2011

2010

2009

2008

2007

0

2006

20 000

2005

40 000

2004

28 Michelin stars. Sweden offers world-class cuisine with a total of 24 restaurants with Michelin stars in Stockholm, Gothenburg, Malmö, Järpen, Skåne, Öland and Växjö.

TOTAL F&B SALES PER SEGMENT 2015

2003

are spending more and more money on food and beverages. The restaurant industry’s turnover is growing fast and hit a record high of SEK 119 billion in 2015. An increase of 9.8 percent over the previous year. Turnover growth hasn’t been this strong since 2010. Sweden has also emerged as a foodie nation to watch, with its modern food scene, indigenous cuisine and culinary techniques that shape global trends. Swedish chefs have achieved world recognition by earning both gold and silver medals at the culinary Olympics, the Bocuse d’Or. And with gourmet restaurants opening their doors all over the country, Sweden has transformed itself into one of Europe’s haute cuisine hot spots, which has definitely caught the eye of food critics across the globe. Another example of this is Teatern which opened in December 2015 in the shopping centre Ringen at Södermalm. The venue is a must-visit food destination and is bringing together several of Sweden’s most high-profile chefs. By serving high quality food in a simple and unpretentious presentation at accessible prices, Teatern makes outstanding eating experiences available to all. Unsurprisingly, curiosity about new types of food and beverages is strongest in the big cities of Stockholm, Gothenburg and Malmö, where expectations of new restaurants and food and beverage initiatives are high. This makes these cities a great testing ground. Opportunities for anyone who wants to introduce new exciting F&B concepts to Sweden most certainly exist – from fast food to fine dining concepts. swedish consumers

Source: Visita/SCB

18

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

R c

E a

GOOD SUPPLY OF RETAIL SPACE The Swedish shopping centre market is one of the most mature and well developed in Europe. Major attractive developments cater to increased demand.

Did you k

now ...

…that in 20 16 , entertainm ent restau ra have post ed the stro nts ngest trend of al l segments with an in , crease of 13 .5% , compared to an over all industry in crease of 13 .8% .

Photo: Nicho Södling

space due to strong private consumption and retail there is a considerable supply of retail space on the sales growth. Swedish market and the total retail stock amounts to Most major Swedish cities have at least one retail approximately 18 million sq m, including shopping park, with IKEA dominating the out-of-town market. centres, retail parks and high street premises. Sweden has some 400 sq m GLA per 1,000 people, compared The factory outlet centre market is immature and only a few schemes have opened, including Arlandastad to the EU average of 231 sq m retail space per 1,000 Outlet Village and Freeport Designer Factory Outlet. people. Some 15 new shopping centres located all over Ever since the 1950s, Swedish families have been Sweden are in the pipeline stretching out to 2017. happily making weekly trips to their shopping destinations, both out of town and in the cities. Shopping cen- Some of these recently opened and ongoing developments are presented in the following city guides, rangtres represent some 30 percent of the non-daily ing from high-tech setups with a GLA of more than goods market. In the Stockholm area, this figure is 100,000 sq m, to specialised city district developcloser to 50 percent. The retail sales in shopping centres account for more than 33 percent of total retail ments and shops in restored historical buildings. sales in the country. There is a healthy nationwide supply due to major ongoing and planned expansions of shopping centres and retail parks throughout the country, as well as a number of city-centre renewal projects. Much of Sweden’s retail space is under institutional ownership and many owners specialise solely Ever since the 1950s, Swedish families in retail property. Developers and prophave been happily making weekly trips to erty owners are working constantly to their shopping destinations. increase the stock of attractive retail

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

19

EXCELLENT LOGISTICS HUB FOR NORTHERN EUROPE Sweden ranks at the top as the most trade-friendly and logistically efficient nation in the world, moving goods and connecting manufacturers and consumers with international markets. choice when companies consolidate distribution and warehousing activities in Northern Europe to one central location. From Sweden, all major cities in Sweden, Denmark and Norway are accessible by road transport in less than 12 hours, while Estonia, Finland, Latvia, Lithuania and western Russia are accessible within 24 hours. Some ten Swedish locations are used by foreign companies for centralised distribution in Northern Europe. Infrastructure investments have provided Sweden with outstanding capacity to assure fast, frequent and timely deliveries. Road and rail capacity to and from Sweden is supported by several high frequency ferry connections and an extensive port network. The Swedish distribution network comprises a large number of freight-forwarding and full-service third-party logistics (3PL) providers. Spurred by the requirements of diversified and multinational industries, Sweden’s logistics sector has become one of the most capable in Europe. Early globalisation of Swedish created high demand for efficient transport and communications systems. sweden is the preferred

CENTRAL HUB FOR FREIGHT AND FLIGHT TRANSPORTATION

WORLD LEADING LOGISTICS INFRASTRUCTURE Logistics Performance Index (Global ranking)

1 Germany 2 Luxembourg 3 Sweden 4 Netherlands 5 Singapore 6 Belgium 7 Austria 8 United Kingdom 9 Hong Kong 10 USA Source: World Bank Logistics Performance Index 2016

“Logistics and supply chain management are now as business-critical as innovation and service orientation. Companies in the Nordic countries and beyond look on the Nordic countries as a single market more and more. Demand is growing for cross-border, cost-effective solutions.”

Henrik Höjsgaard, CEO, PostNord Logistics

Luts'k

L'viv

Rivne

Ternopil

All major destinations reached within 2 hours by air and 24-hour distribution in the entire Baltic sea region

20

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

SWEDISH INVESTMENT MARKET

25%

30 000

25 000

20%

20 000 15% 15 000 10% 10 000

2015

2014

2013

2012

2011

2010

0

2016, H1

5%

5 000 2009

Retail market 2015 was a record year for the retail sector, which represented 18% of total transaction volume. The retail sector has continued on a strong path in H1 2016, representing close to 12% of total transaction volume. The cross-border share of retail investment in 2015 equates to 46%, well above the average of 28%.

now ...

RETAIL SHARE OF TOTAL INVESTMENT IN SWEDEN SEK MILLION

2008

appetite for real estate among both institutional and private investors. The Swedish transaction market witnessed a very strong and confident Q2 2016, with activity remaining high across most markets and segments. Transaction volume for H1 2016 ended up at SEK 84.7 billion, which is the strongest first half-year in history and an increase of 41% compared to the record year H1 2014. Brexit has had no impact on the Swedish market. On the contrary, there are signs indicating that it could have a positive effect on international interest.

2007

transaction market Increasing

Did you k

...that Swed en is the second m ost tech hub in prolific the world per capita , producin g 6 .3 billion -dollar companies per millio n people .

0%

Retail Share of Total

FOREIGN SHARE PER SEGMENT

SHOPPING CENTRE, PRIME RENT AND YIELD SEK PER SQ M PA

100%

10 000

% 10 9

80%

8

8 000

7 60%

6 000

6 5

40%

4

4 000

3 20%

2

Office Foreign share Retail Foreign share Industrial/logistics Foreign share Residential Foreign share Other (incl. Mixed-Use) Foreign share Avg. Foreign share of total

2015

2014

2013

2012

2011

Prime rent

F 2018

F 2017

F 2016

Q2 16

Q2 15

Q2 14

Q2 13

Q2 12

Q2 11

0 2010

2009

2008

2007

2006

0%

Q2 10

2 000

1 0

Prime yield (%)

Source: CBRE

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

21

E-COMMERCE IN SWEDEN IMPRESSIVE GROWTH AND STRONG DEMAND Swedish retail sales over the Internet rose by 19 percent in 2015. This means that e-commerce in goods in Sweden posted turnover of SEK 50.1 billion in 2015, accounting for 6.9 percent of total turnover in Swedish retail. 40 percent of consumers in Sweden between the ages of 18 and 79 buy goods online at least once a month. That’s five percentage points more than a year ago. 19 percent of consumer purchases of goods over the Internet in 2015 were from foreign sites. The largest markets were the UK, Germany, USA and China. 75 percent of e-commerce consumers think it is important to have a choice of delivery methods when shopping online. 29 percent think it is important to be able to have an item they ordered on the Internet delivered the next working day. Most popular is having the goods delivered to a pick-up point (37%), followed by delivery to the home mailbox (29%) and home delivery in the evening (11%).   Increasing digitization drives globalization. Swedes are moving ever more freely outside of Sweden. Today's consumers are becoming more discerning and demanding; they want a large variety and they want products delivered in ways that fit into their daily lives. When Swedes shop online from abroad, it is mainly the wide range and lower prices that drive their purchases.

51%

OF SWEDES SHOP ONLINE FROM MOBILE PHONE OR TABLET

Source: HUI, 2015

58.1

E-COMMERCE TURNOVER, SEK BILLION 50.1 42.9 37.0 31.6

14.3 4.9

6.8

2003

2004

17.7

20.4

22.1

25.0

27.7

9.0

2005

2006

2007

2008

2009

2010

2011

Strong retail sales growth even during the few years of financial downturn. Source: E-barometern

22

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

2012

2013

2014

2015

2016

E-COMMERCE SALES BY SEGMENT 2015

APPAREL/ SHOES SEK 8.4 BILLION

CONSUMER ELECTRONICS SEK 11 BILLION

BOOKS/MEDIA SEK 3.6 BILLION

BUILDING SUPPLIES SEK 2.8 BILLION

FURNITURE/ DECORATION SEK 2 BILLION

SPORTS/ LEISURE SEK 1.8 BILLION

MATURE E-COMMERCE CONSUMERS Population (18-79)

7 262 665

Internet penetration (% of population)

95%

At least one online purchase per year (% of population)

87%

At least one online purchase per month (% of population)

37%

Share of population making online purchases from foreign sites (% of population)

32%

Average purchase per person per quarter (SEK)

TOYS/ CHILDREN’S ITEMS SEK 1.4 BILLION

2 956

Average time consumers are ready to wait for a delivery from a purchase (days)

3,9

E-COMMERCE SALES BY SEGMENT 2015

16% CONSUMER ELECTRONICS

12%

APPAREL/SHOES

7%

BOOKS/MEDIA

38%

BUILDING MATERIALS

34% FURNITURE/ DECORATION

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

29%

SPORTS/LEISURE

34%

TOYS/CHILDREN’S ITEMS

23

Gallerian, Stockholm

Mood, Stockholm

Photo: Jacob Nyremark Photo: Nils Carmel

Food court, Malmö

Food experience, ­ Sweden

Photo: Göran Assner

Götaplatsen, Gothenburg

Photo: Jacob Fridholm

Picnic, Sweden

Photo: Susanne Walström

Grandpa, Stockholm

Photo: Mikael Sjöberg

Liseberg, Gothenburg

24

Photo: Göran Assner

Photo: Joakim Lloyd Raboff

Turning Torso, Malmö

Photo: Janus Langhorn

Local brewery, Malmö

ESTABLISHMENT FACTS SETTING UP OPERATIONS IN SWEDEN IS EASY AND COST EFFICIENT

Way of entering the market The most common way to enter the Swedish retail market is through direct ownership. Franchising and entering via shops-in-shops are other ways, but the Swedish franchise market is not as mature as that in other European countries. It can be difficult to find financial partners and master franchisees to invest in new international brands. Favourable rental conditions There are no restrictions on foreign companies either buying or renting property in Sweden. It is generally believed that the Swedish lease structure is more orientated toward tenant than landlord. Security of tenancy is strong and the tenant has the right to renew at lease end. Standard lease terms are 3–5 years for shopping centres and high street units. Longer terms, usually 7–10 years, apply at retail parks and for anchor tenants. Rents are normally constructed as a minimum base rent with a turnover element if sales exceed the base rent. Rents are indexed annually to the trend in consumer prices, and the tenant has the right to renew the contract for three years. Commercial leases and rents Compared to other countries, tenants have a strong legal position and right to the rented premises. Generally, landlords bear a higher proportion of operating costs than in other countries. Rent usually includes heating and water but not electricity or telecommunications. Rent also often includes cleaning of common areas and snow removal. Rental costs for a fashion store typically amount to 8–10 percent of sales. Opening hours Companies are free to set their own opening hours, as long as this is not in conflict with the lease. It is common for the retail trade in a given city to reach an accord on opening hours. Typical opening hours for high streets are 10:00 a.m. - 7:00 p.m. Mon-Fri, 10:00

a.m. - 5:00 p.m. Sat, 11:00 a.m. - 4:00 p.m. Sun. For shopping malls opening hours are longer, until 8:00 p.m. /9:00 p.m. weekdays and 5:00 p.m./6:00 p.m. weekends. For grocery stores opening hours are longer. Salary costs The average salary for a full-time sales clerk in retail ranges from 23,000 to 25,000 SEK, excluding social fees. Typically, salary costs for a fashion store amount to 17-19 percent of sales. There is no statutory minimum wage in Sweden; wage issues are instead left to employers and employees and their representatives. In the retail sector, the trade union stipulates a minimum monthly and hourly wage, depending on age and experience, in the collective agreement. Starting a business in Sweden - fast and easy Setting up a business in Sweden is a straightforward process. Procedures are simple and efficient, based on a transparent system that seeks to facilitate establishment of new enterprises without red tape. 85 percent of the population speaks English. For more detailed information on how to expand to Sweden – please contact Business Sweden.

RETAIL RENTS 2016 SEK thousand per sq m pa

City

Luxury District

Best Mass Market Street

Prime Shopping Centre

Retail Parks

Stockholm

15'–20'

10'–25'

7'–11'

1.4'–1.8'

Gothenburg

13'–15'

8'–14'

5'–7'

1.3'–1.6'

4.5'–5.5'

4'–5'

4'–6'

1.2'–1.4'

Malmö

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

Source: CBRE

25

BRINGING BUSINESS TO S AN A-Z GUIDE What seems to be the overall experience among companies that have brought their business into the Swedish market is how easy things are. The business climate is characterised by simplicity, openness and transparency. We have compiled a list of arguments, in alphabetical order, as to why Sweden is a thriving market that should be looked into.

ANNUAL GROWTH

The Swedish retail market has enjoyed positive annual growth for more than a decade, fuelled by steady population growth and rising disposable incomes. Overall, retail sales have increased by 51 percent since 2000, and according to the Swedish Trade Federation, retail sales are expected to grow by 30 percent by 2020.

BUSINESS FRIENDLY

Sweden is known for its non-hierarchical management approach based on consensus, knowledgesharing and delegation of responsibility to the individual. Business frameworks are transparent and user-friendly. A high percentage of those employed speak English, and in many cases other languages besides.

COLLECTIVE AGREEMENT

Sweden has a tradition of mutual respect and cooperation between companies and their employees. Labour rela-

26

tions between employers and trade unions are cordial and constructive. Industrial disputes and conflicts are rare. Employers or employers’ organisations hold discussions with the unions to agree on collective agreements for employees. These regulate wages and employment conditions. About 90 percent of employees in Sweden are protected by collective agreements. Employers in the retail industry are automatically entered into collective agreements when they join the Swedish Trade Federation.

DOUBLE TOURISM REVENUES BY 2020

Tourism is Sweden’s fastest growing industry, with significant revenues expected to double by 2020. Shopping tourism is on the rise and Sweden is mostly visited by tourists from neighbouring Denmark, Norway and Finland, and others nearby, such as Germany and the UK. The strongest growth comes from non-European markets like China, Japan and Russia.

EXPERTS’ FAST TRACK

Sweden offers special income-tax relief to encourage highly skilled people, such as international executives, experts, researchers and others with special skills, to work in Sweden. The tax relief scheme makes it easier for foreign-owned and domestic companies to

attract experts and other key people from abroad to work in Sweden. The tax relief is motivated by the fact that foreign experts and others who live in Sweden for short periods cannot derive full advantage from Sweden’s social welfare and pension system.

FINANCIALLY STABLE COUNTRY Sweden has not been as affected by the financial crisis as the rest of Europe. With lowered interest rates and rising disposable in ­­ comes, the outlook is positive. In addition, low sovereign debt, transparent economies, an intact banking system and consumers with sound personal finances produce a rare combination of stability and growth potential. Sweden has a competitive export industry focusing on investment and on input goods such as components and raw materials.

GROCERY GIANTS

The three largest retailers in Sweden are in the grocery retailer segment. The largest of these companies, measured by retail sales value in 2014, is ICA Sverige, followed by Axfood and Coop Sverige. Multinationals play an important role in Swedish retail, especially in nongrocery retail, but they are now gaining in significance even in grocery retail thanks to the rising share of the discounters Lidl (German) and Netto (Danish).

HQs CHOOSE SWEDEN

Sweden has the second highest number of global headquarters in the world per million inhabitants. 24 Forbes 2000 companies have their global headquarters in Sweden.

INTERNET SAVVY

Sweden tops the Networked Readiness Index’s (NRI) rankings as the third most networked economy in the world. The country’s showing is outstanding across the board: 1st, 2nd, and 3rd for individual usage, business readiness, and infra­

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

structure environment, respectively. E-commerce in goods is growing strongly. Seven out of ten consumers shop online, with consumer electronics, clothes and books topping the list.

JUST ONE WORLD

For most Swedes today, sustainability is a way of life. Sweden ranks first in the EU in consumption of organic foods, leads the way in recycling drinks cans and bottles, and gets most of its energy from renewable sources. Sustainable development is a key objective for the Swedish Government, both at home and abroad. The reasoning is that members of one generation should conserve resources for future generations. A recent study by the European Commission found that 40 percent of Swedes had purchased an eco-labelled item over the past month, compared with the EU average of 17 percent. In 2010, Stockholm won an award for being the first Green Capital of Europe, for its efforts to improve the environment, the economy and the quality of life of its citizens.

KEY MONEY

Key money for retail premises is not that common but it exists, particularly in prime locations. A security deposit or bank guarantee equivalent to between three and six months’ rent is normal.

LOW CORPORATE TAX

Sweden is one of Europe’s most competitive locations for corporate taxation. Sweden’s tax structure is transparent, efficient and designed to meet the needs of international investors. At 22 percent, corporate tax is low by international standards, and is also based solely on the company’s annual profit. No licence tax or local corporate tax is applicable. Tax frameworks for businesses compare very favourably with other OECD nations.

SWEDEN MORE CENTRAL THAN YOU MIGHT THINK

By plane, train, boat, truck or car, Sweden lies within a comfortable distance of many European destinations. Flights from Sweden reach the rest of Europe within two hours and major Asian markets and the US in about 10. By truck, all major cities in Denmark, Finland and Norway can be reached in less than 12 hours. Estonia, Latvia, Lithuania and western Russia in 24. Sweden ranks at the top as the most trade-friendly and logistically efficient nation in the world, moving goods and connecting manufacturers and consumers with international markets. Sweden is also the preferred choice when consolidating distribution and warehousing activities in Northern Europe.

NOT JUST “LAGOM”

The word “lagom” can be applied to many things – sugar in coffee, behaviour, having a job, the size of your house, drinking. It pretty much means “it’s just right”, “everything in moderation” and “don’t get too big for your boots” all rolled into one word. Swedish business people consider themselves lagom, meaning normal. However, the Swedish way seems to be amazingly efficient. Sweden is considered an innovative and creative country, and one successful Swedish company after the other pops up on the global market.

OPENING HOURS

Regular opening hours at most shops are 10 a.m. to 7 p.m. on weekdays. All shopping centres and department stores are open on Sundays. In the larger cities, department stores remain open until 7 p.m. or longer. Retailers are free to set their own opening hours, as long as this does not conflict with the lease.

PAYMENTS ON TIME

According to Intrum Justitia’s European Payment Index, Sweden is a country where companies can expect to get paid on time for their services. The average payment periods in Sweden are 26 days for B2C and 35 days for B2B, compared to the European average of 36 days for B2C and 49 days for B2B.

QUALITY OF LIFE

The Human Development Report 2016 from the United Nations ranks Sweden as the world’s 14th best country to live in. The report’s human development index compares living conditions in the world’s nations and determines rankings based on a wide range of parameters, including life expectancy, education enrolment levels, adult literacy and economic output.

RENTAL CONDITIONS

Compared to other countries, tenants in Sweden have a strong legal position and right to the rented premises. Standard lease terms are 3-5 years for shopping centres and high street units. The tenant has the right to renew the contract for a further three years. Rents are normally constructed as a minimum base rent with a turnover element if the sales exceed the base rent. A high quality standards prevails at commercial premises and fee structures are generally cost-effective. Rents are linked to changes in the consumer price index to keep pace with inflation. The market rent includes heating and excludes property tax.

SALARY COSTS

The median monthly salary for a full-time sales clerk in retail is 24,300 SEK, excluding social fees. There is no statutory minimum wage in Sweden; the trade union stipulates a minimum monthly and hourly wage, depending on age and experience, in the collective agreement (see above).

TRANSPARENCY

All Western politicians claim to promote transparency and technology. The Scandinavians can do so with more justification than most. Performance is measured at all schools and hospitals. Sweden is also a leader in e-government – you can pay your taxes with a text message. Governments are forced to operate in the harsh light of day. Sweden allows everyone access to all official records. Compared to many other markets, Sweden has a transparent climate, with information about everything from estate agents to governmental institutions easily accessible to all.

URBANISATION

Swedes are leaving the countryside at a rapid pace and gathering in the major cities of Stockholm, Gothenburg and Malmö. Stockholm is the fastest-growing city in Western Europe and by 2030, the Stockholm region will have about 4 million inhabitants.

defined as price reductions of at least ten percent, or five percent if the margin is less than ten percent. The item must belong to the shop’s normal range and should have a regular price.

YUPPIES AT STUREPLAN

Stureplan is more than an address, it is also Stockholm’s symbol for luxury and style. Business people, media icons, models and celebrities stroll past the square’s famous “mushroom” to visit some of the city’s most exclusive clubs, restaurants and retailers along Birger Jarlsgatan and Bibliotekstan.

ZEITGEIST AWARENESS

Sweden is recognised for both setting new trends and rapidly adopting them from abroad. Consumers are considered demanding buyers who value new technology, functionality and quality as much as design.

VAT

In Sweden, VAT (“moms” in Swedish) is assessed at a standard rate of 25% on almost all goods and services. Some exceptions apply, however, to hotel accommodation and groceries (12%) and passenger transportation (6%).

WORLD COMPETITIVENESS

Sweden’s overall performance in the prestigious World Bank ranking, the World Competitiveness Report, puts Sweden in 6th place in overall global competitiveness, in 5th place in innovation and business sophistication and 4th in technical readiness.

X-TRAPRIS

Normally spelled “extrapris”, “x-trapris” is sometimes seen in shop windows to indicate a temporary sale on selected items. According to the Consumer Agency’s guidelines on temporary price activities, these are

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

27

Retail sales index

Daily goods

Non-daily goods

Total

Malmö

97

136

116

Sweden

100

100

100 Source: HUI

MALMÖ OPENNESS AND ACCESSIBILITY

If you are looking for a vibrant, evolving place with an excellent geographical location that gives you access to the most densely populated region in Scandinavia – then look no further. You have come to the right place. Let us introduce you.

KEY FACTS MALMÖ & ÖRESUND REGION GRP/Capita*: 359,476 SEK Population • City: 322,000, (+4.8% since 2011) • Malmö region: 695,430 • Öresund region #: 3,900,000 Workforce: 165,000

Students • Malmö: 24,400 • Öresund region*: 153,000 (8,000 scientists) Companies • Malmö: 34,405 (1,941 are foreign-owned) • Öresund region #: 250,000

New companies: 8 reg./day Average age: 38 Highly educated people: 50% Single households: 70% Average income: SEK 207,000 Retail sales Malmö region*: SEK 45 billion (7% of Sweden)

* Malmö Region # The Öresund Region is a transnational metropolitan area centred on the cities of Copenhagen and Malmö. Source: SCB, malmobusiness

1 Swedish krona, SEK = ¤ 0.106, EUR (average 2015)

Photo: Justin Brown

47

MALMÖ -

GROWING AND EVOLVING The southernmost part of Sweden is a growing and evolving region, both economically and demographically. Malmö is experiencing positive population growth for the 31st consecutive year, and now has approximately 320,000 inhabitants, but the city also gives retailers access to the market across the Öresund Bridge – Copenhagen, Denmark. seamless connection with Greater Copenhagen there is a substantial flow of shoppers and commuters to and from Denmark – another nation and 2.6 million more people within reach. As the commercial centre for the western part of Skåne, Malmö was ranked #4 in Grist Magazine’s "15 Green Cities" list 2007 and the fourth most inventive city based on the number of patent applications per 10,000 residents (Forbes 2013). thanks to a

• • •

More than 300,000 inhabitants and the third larg- est city in Sweden. Population grew with 1.4% during 2015. 177 nationalities of the world are represented.

Young, vibrant and hip The city’s innovative and entrepreneurial spirit is exemplified by the Malmö-based company called Hövding (Swedish for chief) founded by two women

who practically created the biggest thing since the emergence of the bicycle helmet – an airbag-based helmet that claims to provide the best shock absorption in the world (video went viral and got over 100 million views, check out their FB page). The magazine Travel and Leisure ranked Malmö as the hippest city in Scandinavia in 2014. Recently Apple moved in, accompanied by champions like Ubisoft, Tarsier, King and Planeto – gaming is a serious business in the area. Other global corporations with offices here are Canon, Mercedes, Bosch, Thule, Huawei and of course Ikea – with their international HQ. Accessibility The southernmost part of Sweden, Skåne and the Greater Copenhagen region offer: • • • •

A market with 3.9 million inhabitants, of whom 1.3 million are on the Swedish side and 2.6 million are on the Danish side. 25% of Sweden’s and Denmark’s population live in the region. Access to Copenhagen airport, the largest interna tional airport in Northern Europe with flights to more than 120 destinations and direct flights to key cities like San Francisco and Shanghai, Tokyo, Sin- gapore, New York and many other world cities. Short travel times – the area has an excellent public transport network, and extensive investments are being made in infrastructure.

Architecturally, Malmö showed off its self-confidence in 2005 by finishing construction on the Turning Torso, a 54-storey twisting skyscraper that towers over the city’s western harbour area and has become the new landmark of the region. Equally stunning architecture can be found at Emporia, the largest shopping centre in Scandinavia, which earned the 2013 MAPIC award for “most innovative shopping centre”, the 2014 MIPIM award for best shopping centre, as well as the Singapore architectural design award.

SWEDEN DENMARK Öresunds Bridge Bridee Copenhagen gen M MALMÖ

2024 - The Fehmarnbelt tunnel 2026

Hövding the fashionable airbag-based helmet claimed to provide the best shock absorption in the world.

48

GERMANY

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

MALMÖ

Illustration: ICONO A/S, Femern A/S

The Fehmarn Belt Link, a fixed link that will bring Scandinavia and Europe even closer together. The combined rail and road tunnel is approximately 18 km long, and stretches between the towns of Puttgarten in Fehmarn (DE) and Rödby in Lolland (DK).

TRAVEL TIMES From Copenhagen International Airport to: Stockholm 1h Berlin 1h15 Brussels 1h50 San Francisco 11h20 Beijing 9h

From Malmö Station to: Berlin 6h50 Stockholm 4h20 Copenhagen 30 min Hamburg 5h30

The Öresund Bridge, from the famous crime TV series The Bridge Photo: Oskar Falck

To Helsingborg 65 km / 50 min 3

To Löddeköpinge 5 27 km / 20 min

To Kristianstad 97 km / 70 min 10 E6 9

LARGEST SHOPPING DESTINATIONS AND RETAIL PARKS

J 18 km / 20 min from Malmö

J

IN AND AROUND THE MALMÖ REGION

E20

E22

J 6

Ma

Travem lmö SE –

rman ünde G e

y

R J 11 8 12

7

J Commuter train station R Rail link station

2

Ferry Airport

Ci t

yt

un

ne

l

ÖRESUND

4 R

E20 Bridge with rail link to Copenhagen, Denmark, 30 min Copenhagen Kastrup Airport, 15 min

1

8

R 13

E65

J

To Malmö Airport 31 km / 29 min

E6

Malmö city is really evolving now that the Triangeln shopping centre has been refurbished. The city is in full swing with its open-air restaurants, and several exciting new concepts have opened on the high street. Photography, Leif Johansson, City of Malmö, Trade & Industry Agency

50

– Vasakronan Property owner, Triangeln

EXAMPLES OF SHOPPING CENTRES AND RETAIL PARKS

Emporia

1

Emporia

Emporia is the leading shopping centre in Scandinavia. It has an international atmosphere, a full range of stores, and a well-developed service concept. It is a combination of shopping, food, art and design spread over three floors. Located in Malmö’s most rapidly expanding district, Hyllie in the centre of the Öresund region, Emporia is easily accessible thanks to the Hyllie train station next door. There is a unique rooftop park that is open to the public. As well as being a magnificent viewpoint, the park is also a major part of Emporia’s environmental strategy. Emporia was named the best-looking shopping centre in the world at the World Architecture Festival in Singapore in 2013. Owner: Steen & Ström Turnover: mSEK 2,700 GLA: 70,000 sq m No of tenants: 173

2

Mobilia

This is one of Malmö’s most comprehensive and accessible shopping centres. With 111 shops and 2,000 parking spaces, it has a genuine atmosphere in which a strong Malmö tradition has evolved since the late 1960s. The centre expanded in 2013, and the surrounding area is accorded strong priority in the development plans. Retailers include Best of Brands, Clas Olsson and Åhléns. Owner: Atrium Ljungberg Turnover: mSEK 1,777 GLA: 50,825 sq m No of tenants: 111

Triangeln

4

Triangeln

The most central shopping centre in Malmö city, inaugurated in 1989 and rebuilt and expanded from 25,000 sq m to 34,800 sq m. After more than 25 years, Triangeln is still the largest marketplace in Malmö city centre, drawing 11 million visitors every year. It features a wide variety of shopping, with 140 shops, restaurants, cafés and other services, including H&M, VOLT, Denim & Supply and Ralph Lauren. Owner: Vasakronan Turnover: mSEK 968 GLA: 34,800 sq m No of tenants: 114

5

Center Syd

Center Syd is within easy driving distance of Helsingborg, Landskrona, Lund and Malmö (about 15-20 minutes driving time). In 20142015, Center Syd underwent a total refurbishment, adding about 8,000 sq m of new retail area. Galleria Center Syd is a family destination for residents in our catchment area. We plan to be the most attractive choice in the region for families with children. Galleria Center Syd has about 85 shops including services such Systembolaget, pharmacies, and much more. Anchor Tenants: ICA Maxi, Systembolaget, H&M, KappAhl, Lindex, NewYorker, Akademibokhandeln, Stadium, Dressmann, Cubus, Cassels, Drakens Playground. Galleria Center Syd is part of a large commercial area which attracts over 4 million visitors per year. Bauhaus, Elgiganten, Lager 157, and Jysk are some examples of chain stores that are on the market place. There are over 250 companies in this commercial area, with approximately 1,800 employees. 45,000 cars pass by every day on the E6 motorway and about 700,000 people live within a 40 km radius. Owner: NRF Sweden Holding Turnover: mSEK 979 GLA: 37,425 No of tenants: 79

6

Burlöv Centre

Located in Arlöv in the north-eastern corner of Malmö, this shopping centre has 38,700 sq m of retail space. The 73 shops include Cubus, Din Sko, Lindex, MQ, Twilfit, Gina Tricot, Rusta, Elgiganten, Stadium, H&M, Ecco and Clas Ohlsson.

Photo: Jappz Productions

Owner: Grosvenor Fund Turnover: mSEK 1,000 m GLA: 42,000 sq m No of tenants: 73

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Malmö Plaza

Plaza is located at the North entrance of Malmö. Built in 2009, it has 55,000 sq m retail space and 900 parking spots. In the future it will house 108 stores, as well as bowling, restaurants and a cinema. Entryway refurbishment is ongoing and will be finished in 2017. 3

Väla Centre

With its 180 shops located outside Helsingborg, Väla brings you world-class shopping. Here shoppers will find both international chains and trendy local stores: Zara, Hugo Boss, Desigual, New Yorker, Filippa K, G-Star, Mango, J.Lindeberg and many more. Väla Centre won the NCSC Nordic award for Best Nordic Shopping Centre 2013. Väla continues to develop as a shopping area. Owner: Skandia Fastigheter Turnover: mSEK 2,230 GLA: 51,250 sq m No of tenants: 173

Owner: Commerz Real Turnover: mSEK 368 GLA: 33,000 sq m No of tenants: 13

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Jägersro Centre

Jägersro Centre is located near the Jägersro racetrack and has a wide range of shops offering something for all ages. Here you’ll find everything from clothes, shoes, jewellery and electronics to everyday products in a family-friendly environment with generous opening hours and parking spaces. Jägersro Centre is also easy accessible by bus.

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Nova Lund

Since its opening in 2002 in the western part of the university town of Lund, Nova Lund has become a popular shopping destination for the entire Skåne region. An additional 6,000 sq m were added in 2006. Its 81 shops centre on fashion and include Esprit, H&M, Odd Molly, Jack & Jones, Dressmann and Vero Moda. Owner: Th Real Estate Turnover: mSEK 979 GLA: 24,650 sq m No of tenants: 82 10

Galleria Boulevard

A modern, convenient urban shopping centre is taking shape in the heart of Kristianstad. Galleria Boulevard will form the hub of Kristianstad’s shopping quarter in the city centre. The shopping centre is being built and opened in three stages. Stage two opened in March 2015, and includes restaurants, cafés and a cinema. Owner: Steen & Ström Turnover: mSEK 585 m GLA: 21,300 sq m No of tenants: 36 11

Kv. Caroli

Kv. Caroli is strategically situated in the Old town close to Malmö Central Station and Malmö City. Kv. Caroli has a unique atmosphere and offers a well-balanced mix of fashion, food, service and leisure. Personal, innovative and exciting cafés, bistros and restaurants add to the mix targeting consumers. At Kv. Caroli you’ll find a variety of shops like H&M, The Body Shop, Scorett, Kicks, Hi-Fi klubben and Le Nails. The great mix of restaurants includes top Swedish chef Melker Andersson’s restaurant Köttbaren. Owner: A Group of Retail Assets Sweden AB Turnover: mSEK 498 m GLA: 13,600 sq m No of tenants: 35 12

Hansa

A centrally located meeting place and gallery for shopping, lunch or coffee. Retailers encompass most of the major brands shoppers are looking for, classics and newcomers alike. There are also several concepts unique to the region. For example, COS, & Other Stories, or Systembolaget, whose unique wine cellar is one of only three of its kind in all of Sweden. Hansa also has care facilities and a secondary school. Owner: Areim Fastigheter Turnover: mSEK 509 GLA: 12,450 sq m No of tenants: 47 13

The Svågetorp retail park

The Svågertorp retail park is in close proximity to the Öresund Bridge and offers free parking. At the Svågertorp retail park in southern Malmö, you will find a large selection of shops catering to needs in home construction, interior design, sporting goods and gardening. For example: Ilva, Bauhaus, Stof&Stil, K-rauta, Elgiganten and Stadium. IKEA has a new 44,000 square metre department store in the area, the largest IKEA store in the world. Source: Datscha SSCD

Owner: Trophi Fastighets AB (Redito AB Turnover: mSEK 514 GLA: 22,700 sq m No of tenants: 34

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

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# 1 Hippest City in Scandinavia, # 4 “Green Cities”, # 4 Most inventive cities,

Travel and Leisure

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Turning Torso, the 54 story high neo-futurist skyscraper that is the new landmark in the region accompanied by the Öresund Bridge. The residential building was designed by Santiago Calatrava and is the tallest building in Scandinavia

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Photography Werner Nystrand, City of Malmö, Trade & Industry Agency

A brand new office block adjacent to the Central Station in Malmö - Glasvasen (the glas vase in Swedish).

One of the most important areas of expansion today is the Western Harbour with its mixed urban structures including residential, commercial and services. one of the most sustainable and trendy districts in Malmö with amazing architecture and a view over the Öresund and the Öresund Bridge. Here you also find the spectacular 190 metre high Turning Torso and Stapelbäddsparken, which attracts skateboarders from all over the world. The district offers beautiful walks, wonderful bathing facilities, unhurried meals in restaurants, coffee and picnics on the grass, or fun and games with high-energy activities. You can also find the Dockan Marina here, with plenty

the western harbour is

of berths and facilities for guest boats, just ten minutes’ walk from Malmö Central Station.   The area is known for its environmental engineering solutions and has developed into an organic, sustainable part of Malmö. The Western Harbour, more than any other area in Malmö, is an example of the city’s transformation from an industrial society to a society based on innovation and knowledge. The companies operating here are are in close proximity to Malmö University at Universitetsholmen, Malmö Centre and Malmö Central Station.

VANS in partnership with the city of Malmö history of collaborating with skaters going all the way back to the 70’s, and it was Vans and Steve Van Doren’s approach of listening to skaters and responding to their needs that helped spur this project. Building this amazing bowl and donating it to the City of Malmö is further evidence of Vans’ commitment to skateboarding and a big step in the process of giving back to the skate community.   Malmö is run by skateboarders! Here you will not only find some of the most interesting skate parks, but a barrage of DIY spots and public spaces adapted for skating. The all new skate park, which plays host to the Vans Pro Skate Park Series final, is a premier built-to-spec terrain legacy construction donated by Vans to the community, as thanks for their leadership and progressive support of the city’s youth with skateboard programming and activities.

Photographer: George Pedrick, Pr & Media Dept VANS | Europe, Middle East, Africa

vans has a

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

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MALMÖ

KEY SHOPPING STREETS MALMÖ CITY CENTRE

Malmö offers a large selection of designer boutiques and young, trendy fashion. Commercial pedestrian areas stretch from Stortorget along Södergatan, Skomakaregatan and Baltzarsgatan, past Gustav Adolfs Torg and Södertull, and further down Södra Förstadsgatan to Triangeln and Möllevången. Most of the shopping districts are pedestrian only, and within walking distance. 1 Centralstationen (Malmö Central Station) Malmö Central Station is Sweden’s third largest station with over 45,000 travellers passing through each day. Since the Citytunnel opened in 2010, the station has gone through a major renovation, combining new modern architecture with historic buildings such as Kungalängan, the one-time waiting lounge for the king in the 19th century. At Malmö Central Station you’ll find a mix of shops selling books, magazines and flowers, as well as a wide range of nice restaurants and coffee shops with flavours from all over the world.

Malmö’s busiest locations, no matter the season. Next to Lilla Torg you will find Bastard, one of Malmö’s most popular restaurants. 5 Södra Förstadsgatan This is a popular pedestrian shopping street that stretches from Davidshallsbron bridge to Triangeln. Here you’ll find Design Torget, G Star Raw, Samsoe & Samsoe, Levis, Björn Borg, Mango and Benetton. 6 Davidshall Over the last few years, many new restaurants, cafés and shops have popped up in the area around Davidshalls torg. Most of the stores cater to a young and trend-conscious audience, but you can still find everything from boutiques with custom designs to vintage shops. Find your favourite designer at Tjallamalla, Popolino, Gry, Anceschi or Liebling.

2 Södergatan This is one of the city’s oldest streets - with a rich tapestry and a heavy flow of people. Construction along the street dates from many different times, from the Flensburg House (1596) to Baltzar City (opened in 2002). Baltzar City is part of Malmö’s most exclusive string of boutiques, and the beautiful glass façade makes for a spectacular contrast to the surrounding turn-of-the-20th-century houses. Shops on Södergatan include Zara, Mulberry, Eton, Peak Performance, Filippa K and Bolia.com. Södergatan is also home to Åhléns City, one of Sweden’s leading department store chains. Åhléns is one of Sweden’s most recognisable brands, offering a unique mix of fashionable, affordable products and solutions in the areas of fashion, interiors, entertainment, beauty and children.

Baltzargatan/Skomakargatan Baltzargatan and Skomakargatan form one of Malmö’s most exclusive shopping streets. At the intersection where Baltzargatan meets Södergatan and becomes Skomakargatan, shoppers find high-end boutiques such as Marlene Birger, Lacoste, Efva Attling, Ittala, Nespresso, Hope and Whyred. Some brands are only available here, unless you want to cross the bridge to Copenhagen. On Baltzargatan you’ll find excellent coffee at the very popular Lilla Kafferosteriet in a beautiful 17th century building.

7 Möllevångstorget Malmö’s most colourful neighbourhood with lively markets, shops and restaurants from around the world. There are 177 countries represented in Malmö, and they all come together in Möllevångs­torget. When it comes to restaurants, you will find virtually the whole world represented here! Close to Möllevångstorget is also Malmö Chokladfabrik/Chocolate factory, Malmö Chocolate Museum and micro brewery Malmö Brygghus, all showcasing proud traditions from Malmö’s past.

4 Lilla Torg The Form/Design Center is located in Hedmanska Gården at Lilla Torg. Here you will find the best in Scandinavian design and local crafts. Lilla Torg is a large outdoor area that is home to several of Malmö’s best-known restaurants and clubs. Lilla Torg is one of

Photo: Fredrik Johansson, City of Malmö, Trade & Industry Agency

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The new hotel and congress centre in the city of Helsingborg. The centre occupies a prime location overlooking the sea. Illustration: Jais Architects, developer: Midroc

HELSINGBORG Helsingborg is one of the fastest growing cities in the region. H+, Helsingborg’s new waterfront district, is the largest urban renewal project in Helsingborg in modern times. Once an old harbour and industrial area, H+ is undergoing a transformation into a modern residential and business district. Here you will find Campus Helsingborg with 4000 students, a new hotel and congress centre by the sea, a new shopping galleria and a boutique hotel. Visit www.businesshelsingborg.com for more projects and information.

ESS & MAX IV MAKING THE INVISIBLE VISIBLE The world’s most advanced research facilities, MAX IV and ESS, are outside Lund, 20 kilometres north of Malmö. These facilities will help scientists understand materials in much finer detail, helping them solve some of the grand chal­lenges of our times – from cancer research to novel energy materials.

1 Swedish krona, SEK = ¤ 0.106, EUR (average 2015)

MALMÖ

UNDER DEVELOPMENT IN THE MALMÖ REGION

Linking Scandinavia to the continent, providing faster and smooth access The Fehmarn Belt tunnel being built between Denmark and Germany and is expected to be completed in 2026. The tunnel will link Scandinavia with the Continent and will shorten travel time significantly. The Öresund Bridge has played an important role in the integration and growth of the Öresund region, and the forecast is that the tunnel will have a similar impact on a competitive new greater Region. www.femern.com

Science village Scandinavia

Science village Scandinavia The land being developed just north of Lund covers 18 hectares where the plan is to build approximately 250,000 sq m GFA intended for use by businesses, research and educational facilities in the field of materials and life science research and innovation. University and college campuses, guest accommodation, research institutes, services, gyms, restaurants and cafés will be built on the plot. The buildings can be erected with up to seven or eight floors, in a variety of architectural styles. www.sciencevillage.com Malmö Industrial Park Malmö Industrial Park, situated by the harbour, is one of the most attractive locations for new business start-ups in northern Europe. The area is located close to the Malmö/Copenhagen conurbation at the threshold to the Baltic Sea region and its 100 million consumers. The strategic location makes it easy to distribute incoming and outgoing freight flows, both on a north-south axis to Scandinavia and northern Germany and on an east-west axis to Poland, the Baltic States and western Russia. The sizes of the industrial sites in the Malmö Industrial Park vary, starting at around 20,000 square metres. The subdivision of sites is flexible and there is significant scope for adaptations based on the needs of each business. Similarly, there are good opportunities for meeting the needs of businesses that need extra-large sites or have other preferences.

Malmö Saluhall, a brand new foodhall Classic food hall culture meets today’s demand for great food to take away or to eat in. Malmö Food Hall is the meeting place for real food experiences that inspire us during the week, at the weekend, or for parties. A food destination for food lovers, hungry lunch guests and passionate cooks. Malmö Food Hall heaven for food lovers!

C4 Shopping C4 Shopping is planned to open in stages. The first part of the complex opens in late 2017. The grand opening, once construction of the entire establishment is completed, will be in the end of 2018. Located in Kristianstad, the seat of Scania County which is a city with strong commercial traditions, the new shopping mall is in the center of a region with 300,000 inhabitants. With its 70,000 sqm, 2,400 parking spaces, and 100 retail spaces it will be a commercial center attracting visitors from Eastern Scania, Western Blekinge and Southern Småland. It’s situated in the green surroundings of the castle of Hammarshus, where King Christian IV of Denmark founded the city in 1614. .

Malmö Saluhall

C4 Shopping

I love this city and that is why I have invested heavily in it, with a total of three new hotels in the coming years. Malmö has incredible potential with its pioneering spirit and diversity and I have decided to be part of the city’s growth. – Petter A Stordalen, owner of Nordic Choice Hotels in Sydsvenskan 57

Photo: Johan Bävman

Shopping street, Malmö Sergels torg, Stockholm

Photo: Jakob Fridholm

Photo: Nicho Sodling

Interior design, Gothenburg Photo: Rodrigo Rivas Ruiz

Ullevi, Gothenburg

Photo: Nicho Sodling

Photo: Pixprovider 2011

Triangeln, Malmö Photo: Christoffer Lomfors

NK, Stockholm

Mood, Stockholm

Bibliotekstan, Stockholm

Food experience, Sweden Photo: Jeppe Wikström

Photo: AMF Fastigheter

LET US ASSIST YOU IN SETTING UP BUSINESS IN SWEDEN This publication is provided by the investment promotion organisations of Sweden, Stockholm, Malmö and Gothenburg in partnership with industry organisations and retail property owners. Contact us for assistance, information and network contacts when considering expanding into Sweden. is the official Swedish trade and investment council, whose mission is to facilitate and promote international investment in Sweden, and to promote the expansion of Swedish companies abroad. International companies can get free advice, tailored information, establishment support and networking contacts, when considering expanding into Sweden. www.business-sweden.se business sweden

is the official investment promotion agency of Stockholm. We work on a long-term basis with the marketing and development of the Stockholm region as a business destination. www.investstockholm.com invest stockholm business region

invest in skåne is the official business promotion agency for southern Sweden. We provide free professional advice and services to international companies considering southern Sweden for future investments, and assist regional companies in developing their international business. www.investinskane.com business region göteborg is the official investment promotion agency of the Gothenburg region. We are dedicated to strengthening and developing trade and industry in this region. We offer local expertise, market information, tailor-made data/analysis and contacts facilitating the establishment and expansion of businesses in greater Gothenburg. www.investingothenburg.com

INDUSTRY ORGANISATIONS

CONSULTANTS

stockholm property association

gate46

Based in the heart of Sweden’s thriving capital, the Stockholm Property Association represents and serves over 5,000 members in the commercial and residential real estate industry. www.fastighetsagarna.se/stockholm

provides solutions to make retailers more profitable. We offer Tenant Representation, Site Acquisition & Disposal, Legal Advice, Valuation & Advisory and Contract Management. www.gate46.se is the largest full-service real estate services firm in the world. Operating across the globe, the firm holds a leadership position in the clear majority of the world's key business centres. The firm has approximately 70,000 employees, of whom 250 are based in Sweden. We have offices in Stockholm, Gothenburg and Malmö. www.cbre.se cbre

city i samverkan

(Stockholm City Centre Partnership) is a non-profit membership organisation that initiates, manage and executes city centre projects in collaboration with local authorities, property owners and various city stakeholders. Together we strive for the best possible Stockholm City centre experience. www.cityisamverkan.se PROPERTY OWNERS is one of Sweden’s largest property investment and development companies, focusing mainly on urban commercial office and retail premises in Stockholm, with its main investment focus being on Stockholm’s city centre. AMF fastigheter is a subsidiary of AMF Pension Insurance. www.amffastigheter.se amf fastigheter

cushman & wakefield is a leading global real estate services firm that helps clients transform the way people work, shop and live. Our cross-border retail team provides innovative solutions to occupants, owners and investors, with offices in Stockholm, Norrköping, Gothenburg and Malmö. We are the centre of retail & leisure. www.cushmanwakefield.se

vasakronan is the leading commercial property company in Sweden. Our strategy is to focus on retail premises and centrally located offices in Sweden’s major growth regions: Stockholm, Uppsala, Gothenburg, Malmö and Lund. We believe in city shopping wholeheartedly, and with 320,000 sq m of retail space, we are the largest retail operator in Sweden. www.vasakronan.se

1 Swedish krona, SEK = ¤ 0.105, EUR (average 2016)

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Published in October 2016 by Business Sweden Invest Stockholm Business Region Stockholm City Center Partnership Business Region Göteborg Invest in Skåne

Main partners: CBRE The Stockholm Property Association 1