Niclas Valfridsson started earlier this month as the new chief executive of Cross Sportswear, the Swedish ski, outdoor and golf apparel brand. Valfridsson was previously the chief executive of a Swedish watchmaker, Sjöö Sandström, which he turned around.
The appointment comes after Cross suffered a sharp decline in sales, down to about 63 million Swedish kronor (€8.5m-$10.5m) in 2011, which was just over half the level of sales five years ago. The brand's troubles have led to the closure of all but one of its six stores: While it previously had four outlets in Sweden, one in Norway and another in Finland, it only has one store left in Stockholm. Valfridsson said he was studying the exact situation to launch a fresh expansion plan at the start of next year. He will make it a priority to rebuild in the brand in Sweden, which makes up only about 15 percent of the company's turnover.
The company had been without a chief executive since Jonas Peterson left the company toward the end of last year after less than two years at the helm. Sportfack, the Swedish business newspaper, said that the shareholders of Cross, led by the investment firms Optinator and Arvid Svensson, had considered selling the company but instead opted to invest in a new management team.
While Valfridsson is taking care of finance and human resources, the company's owners have also appointed Ylva Ryström to head up sales and marketing. Her previous employers include Filippa K, a Swedish fashion brand.
