Nordic retailer sets up sourcing base (hktdc.com)


	CEO & President of ICA AB, Kenneth Bengtsson with InvestHK's Mike Rowse (left)

One of the leading retail companies in the Nordic region, ICA AB recently announced the opening of its Asian regional headquarters, ICA Global Sourcing Ltd in Hong Kong. ICA AB is also setting up a sourcing and quality control operation in Asia to get full control of its value chain and to reduce its purchasing prices by at least 10-15%.

Chief Executive Officer and President of ICA AB, Kenneth Bengtsson, said ICA AB chose Hong Kong for its regional headquarters, because the city is located at the heart of its expanding Asian operations.

"This investment is a way for us to further consolidate our quality efforts. It brings us closer to the market and gives us even better control of the whole production and buying chain. It is a very exciting development which we are looking forward to in relation to the opening of this office," he said.

Mr Bengtsson added that Hong Kong has a pro-business environment and all the major business competencies to run a successful office including management, trading, sourcing, quality assurance, logistics and IT infrastructure.

Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, welcomed the opening of ICA AB’s regional headquarters. "Setting up in Hong Kong allows ICA AB to closely monitor its sourcing facilities, quality control and partners in Asia, while benefiting from Hong Kong’s international platform and business services," he said.

ICA AB is one of the leading retail companies in the Nordic region, with around 2,300 of its own and retailer-owned stores in Sweden, Norway and the Baltic countries. The Group includes the business units ICA Sverige, ICA Norge and Rimi Baltic. ICA AB also offers financial services to Swedish customers through ICA Banken. Source: InvestHK