J.Lindeberg has indicated that it anticipates a financial turnaround in 2021, after posting losses of more than 90 million Swedish kronor (€8.9m-$10.4m) in 2019 and SEK 20 million (€1.9m-$2.3m) in 2020. Sales are expected to grow by SEK 50 million (€4.9m-$5.8m) as compared to last year, driven by an increase of more than 80 percent in leisurewear. The company has been making losses for many years on an annual turnover of around SEK 1.6 billion (€160m-$190m) after its takeover in 2012 by Anders Holch Povlsen and other shareholders of the Bestseller Group. The turnaround is coming after the appointment last year of a new CEO, Hans Christian Meyer, who laid off 28 percent of the staff and renovated existing stores, according to Sportfack.

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