THE SWEDISH CHAMBER OF COMMERCE FOR THE UK
TRUNK CLOTHIERS & REFERANZA
IN CONVERSATION On fandom & customer loyalty
FAGERHULT & LÃ–FBERGS The love for fika brought them together LONDON TECH WEEK Join in on the celebrations at London Bootcamp & Tech Forum
ISSUE 345 - APRIL 2019
The LINK ABOUT
The Swedish Chamber of Commerce for the United Kingdom is the ultimate business platform for Swedish and UK businesses. We help businesses establish, grow and develop, through our wide range of business services, matchmaking, events and programmes. We represent 400 businesses, from start-ups, to SMEs, unicorns and large multinational corporations, from across all sectors and industries. Founded in 1906 - by businesses and for businesses - we have connected the Swedish-British business community for over a century. Join us today, if you haven’t already.
S C C PAT R O N S
IN THE LINK 65 YEARS AGO
THE LINK ISSUE 345
65 years ago, the SCC celebrated 300 years of
Editors: Jonas Eklund, Erik Helldén and
blooming trade between Sweden and the UK. At
the time, the LINK was called ‘The Anglo-Swedish
Cover photo: Renz Andres
Review’ and looked quite different from today. Nonetheless, the focus has remained the same - to be at the service of the Swedish-British business community. In the 1954 April issue, you could read a contemporary translation of the ‘Treaty of Friendship and Commerce’ between Sweden and the UK from 1654, an article about the conference of Sweden consuls in the UK and a guest column on how the British view current trade relations between the countries.
NOT A MEMBER YET? Visit www.scc.org.uk or contact the Secretariat on +44 (0)20 7224 8001 / firstname.lastname@example.org
The LINK THE CHAMBER
Dear Members, 29 March has now passed, the 12 April is arriving, and Brexit is showing no signs of a conclusion (at time of writing this), despite an eventful month of indicative votes, rejected votes, negotiations, Parliament control, and quite frankly, a lot of drama. BBC Parliament’s viewing figures must have hit the roof. Businesses are now faced with a unique challenge on their hands, relating to the unknown, in a world where unpredictability has almost become the norm. At the Chamber, we offer a platform for businesses to meet, share, listen, and help each other. Since I joined the Chamber last summer, we have hosted numerous town hall events, intimate roundtables and put Members in front of decision makers or those in the know. We will continue doing so for as long as this process continues. We have also taken steps to connect Swedish entrepreneurs, start-ups and SMEs to the UK, in an effort to make sure we develop relations between our two countries, and not the opposite. Our London Bootcamp programme during London Tech Week is a partnership with the Swedish Agency for Economic Growth and will feature 35 Swedish tech businesses on their way out in the world. We are also launching a unique Growth Readiness Mentorship Programme, connecting tech businesses in Sweden with London-based investors. We want to provide real value for the next generation. Join us for the annual Tech Forum & Tech Fest at Google HQ on 13 June, and meet the Bootcamp delegates and many more.
The impact of technology and the speed of transformation is extraordinary. This speed is perhaps nowhere faster currently than in Shenzhen, China. As a board member of Swedish Chambers International, I had the privilege of visiting both Shenzhen and Hong Kong this March. With technology comes enormous opportunities, and we met with a range of successful Swedish businesses and organisations in the region, such as Daniel Wellington, Flexworks, EQT, Handelsbanken, Nordic Innovation House and Viral Access, with various footprints in the Greater Bay Area region. Even the LINK is subject to change, and this issue brings you some new features. “In conversation” is one of them, where random Members are brought together to explore what unites them. Another is the “Patrons highlight”, looking at some of our biggest supporters. This issue will also launch our podcast activities, which will go online from April onwards. Exciting times. A warm welcome to our newest Members; Barreca Tibblin, Byredo, FIKA Communications, H&H Group, Hypergene AB, Invest in Skåne, LOGOS, LondonSwedes, Rawlinson and Hunter, Stora Enso, SVCA, Vaneo Capital and Zound Industries. Also, a warm welcome to our newest Patron Haypp.
Peter Sandberg, Managing Director Swedish Chamber of Commerce for the UK email@example.com
ANDRÉ VIKTORSSON EVENTS & PROGRAMMES SCHOLAR
ANNA CRONA BUSINESS SERVICE MANAGER
ANNA ERICSSON EVENTS & PROGRAMMES MANAGER
ERIK HELLDÉN MARKETING & COMMUNICATIONS INTERN
JONAS EKLUND MARKETING & COMMUNICATIONS MANAGER
LINNÉA LINDGREN MARKETING & COMMUNICATIONS SCHOLAR
LOVISA LINDKVIST MEMBERSHIP INTERN
NATHALIE THIEL MEMBERSHIP SCHOLAR
PETER MCNAMEE FINANCIAL CONTROLLER
PETER SANDBERG MANAGING DIRECTOR
SOFIA LARSEN MEMBERSHIP MANAGER
SOFIA ROSENBLAD EVENTS & PROGRAMMES INTERN
The LINK FEATURE
EUROBONUS MEMBERS ARE ONE SUSTAINABLE STEP AHEAD WE NOW CO2 OFFSET ALL EUROBONUS MEMBERSâ€™ TRIPS WITH SAS WWW.FLYSAS.UK
TRAVELERS FOR THE FUTURE
CONTENTS THE LINK • ISSUE 345 • APRIL 2019
07 The love for ‘fika’ brought Fagerhult and Löfbergs together
09 London Tech Week The SCC joins in on the celebrations with London Bootcamp and Tech Forum
12 In conversation SCC Members meet to explore what unites them
37 Meet Tracey Davidson From the dream of becoming a music teacher to a successful banker and business woman
5 Happy at work SCC Member and Patron Kinnarps, UK MD Ashley Hayward, on well-thought-out working environments.
Broader perspective on business culture
From Swedish bread boxes to global packaging solutions
Meet Anna Crona
The first participants of ‘Making sense of Britain’ and ‘Making sense of Sweden’ have finished their courses. Read what they had to say.
Christopher Fuchs, MD at Nefab UK, on the company’s journey to a global business with sustainability in focus.
In February we welcomed our very first Business Service Manager to the team.
The LINK PATRONS HIGHLIGHT
HAPPY AT WORK
Kinnarps on well-thought-out working environments BY: LINNÉA LINDGREN
Founded over 75 years ago, SCC Member and Patron Kinnarps is today one of Europe’s leading suppliers of workplace solutions. Originally from Kinnarp in Sweden, the family-owned company is the home of Scandinavian office furniture. It is a household brand in Sweden and yet not as known in the UK. The LINK spoke to Ashley Hayward, Managing Director of Kinnarps UK, about the Kinnarps story, the re-designed showroom in London and the pros of having a well-thought-out working environment. Kinnarp, where it all began It was in the small locality of Kinnarp, located in Västra Götaland County, Sweden, where Evy and Jarl Andersson founded Kinnarps in 1942. A lot has happened over the decades and one of the milestones for the company was when it went on to launch in London in 1974, establishing itself on the export market. Today Kinnarps sells its products in over 40 countries and the headquarters is still located in Kinnarp. Ashley Hayward joined Kinnarps in 1994 as a sales support staff member and has undertaken a variety of roles, through Sales Account Manager and Sales Manager, until his appointment as Managing Director in January 2017. Ashley says that from his first trip to Kinnarps in the mid-90’s to his most recent business meeting only last month, he still finds the factory a fascinating place to visit. “From the moment you land at Gothenburg airport you see our products in use everywhere from passport control to the car rental service centres. Then, after a short drive (in Swedish terms), you arrive in the town of Kinnarp where you are able to purchase “Kinnarps pizza” and homewares from the Kinnarps gift shop. When you visit Kinnarps it makes you feel part of something quite special.”
Kinnarps with the soft K Ashley points out that the Swedes are a proud nation who value a company’s history and roots, something that Kinnarps has in spades. He says that the heritage of Kinnarps, like most large Swedish companies, is an important factor in the home market. When it comes to the UK, he thinks that the outlook is more international, with speed and dexterity as the most sought-after values. He explains that current reputation is much more important. “There is an emphasis on evaluating recent experience and past glories are less relevant. The difficulty can be how to appear and remain current without relying on the past.” According to Ashley the majority of people in Kinnarps’ marketplace know they are Swedish, but the brand as a whole is less well known by the average facilities manager who they target
in the UK. “In the UK we are only known by those who work in the workplace interiors community, be it facilities, procurement or design. Many years ago, we did debate whether to pronounce Kinnarps with a hard ‘K’ when speaking but found that customers actually enjoyed being ‘in the know’ and the Swedish pronunciation with the soft K was a ‘secret’ that people liked knowing or discovering.” Family-owned Swedish business with a deep heritage “Our founder once said, ‘I never meant for it to get so big’, which I think shows the humility and unassuming nature of a Swedish business with a deep heritage. In many ways, we are lucky to be able to take the best of Swedish culture and stir it in with our UK values, resulting in a unique and appealing ethos that is manifested in low staff turnover and many long-serving employees,” says Ashley. Regarding ‘Brand Sweden’, Ashley thinks it is certainly a good thing when it comes to topics such as sustainability, ergonomics and wellbeing. Topics that are of significant importance for the Kinnarps business. “There’s a clear acknowledgement that Sweden is ahead of the curve; a credibility that when we say we excel at these topics it is, of course, true.”
Ashley Hayward, Managing Director of Kinnarps UK.
The Workplace House In London, Kinnarps has recently launched Workplace House, their re-designed showroom where the benefits of an agile working environment are showcased. To make the dream of Workplace House come true, Kinnarps worked with like-minded suppliers. “I had wanted to break out from the expensive ‘showroom of static furniture pieces model’ for some time and was delighted when the opportunity came knocking,” says Ashley. He describes an
The LINK PATRONS HIGHLIGHT agile working environment - or activity-based working - as the go-to solution for companies looking to find efficiencies in their property costs and/or improve the experience for their employees. He explains that agile working has many benefits including releasing expensive floor space whilst giving employees a more attractive working environment; allowing companies to grow without the need to take on more property; or getting teams to work more collaboratively and improving the workplace experience. “There’s a host of reasons and related benefits to consider, but it starts with an organisation’s goals and strategy, something we use Workplace House to help us extract and define,” says Ashley. However, he also points out that this is not the only option. “Our Next Office consultancy process is designed to help organisations find the right solution for them. This could mean ‘going agile’ but could lead them to take a more conservative workplace design route. Every client is unique, so we have no off-the-shelf answer. We work with clients to discover what will fit their individual needs and specifically help drive their business.” Workplace House is also a living example of co-working and through it Kinnarps is able to demonstrate in a real setting how its products play its part. “Whether commercially sold as co-working spaces or simply designed as such within large corporate entities, the move to sharing space, choosing from a mix of settings and rubbing shoulders with other professionals is the key driver to designing workspaces today,” says Ashley.
Well-thought-out working environments Kinnarps is continuously working with communicating how a well-thought-out working environment has an impact on being happy at work, creativity, productivity and health. Even though there is a great deal of research and discussion around the topics of workplace design in relation to creativity and productivity of employees, Ashley thinks that some of the communication is often ‘preaching to the converted’.
“I like the phrase ‘as a consequence of what we do, we happen to sell some furniture’. It describes our approach to customers… we look beyond furniture to ask why it is needed and how it is used.” Ashley explains: “As with all new thinking, the front curve of adoption is to those keen to take on new ideas, who are hungry and actively seeking out what you’re proposing. That’s the low-hanging fruit in salesman’s terms. The challenge is to get the message to the next level – the vast majority of businesses all striving to grow and adapt to a changing world as best they can. We often find guests will come to Workplace House to
see products but will soon be discussing their workplace strategy or the challenges they face. Our showroom often acts as a series of prompts that opens dialogue far beyond simply furniture.” Ashley emphasises that their clients want them to support their business in the near future and help drive change and success. He believes that Kinnarps will only succeed if they challenge and listen. Ashley says: “I like the phrase ‘as a consequence of what we do, we happen to sell some furniture’. It describes our approach to customers… we look beyond furniture to ask why it is needed and how it is used.”
The Patronship The SCC Patronship consists of a core group of SCC Member businesses committed to supporting the Swedish-British business community. The Patronship comes with a range of added benefits - if you would like to know more, please contact firstname.lastname@example.org.
Kinnarps recently launched its re-designed London showroom, Workplace House, displaying the benefits of agile working. Photos: Kinnarps.
The LINK FEATURE
THE LOVE FOR FIKA
brought Fagerhult & Löfbergs together BY: LINNÉA LINDGREN
In Sweden, the two companies Fagerhult and Löfbergs probably know more or less everything about one another. In the UK however, the two SCC Members haven’t always been as enlightened as they are today. Last year, when Fagerhult started developing their concept of the ‘fika box’, they knew that a key ingredient in the box had to be Swedish coffee. So, Fagerhult decided to approach the SCC network to find a coffee provider, and not long after, the collaboration between Fagerhult and Löfbergs commenced. The LINK met with Scott Allen, Head of Marketing, and Marianne Trotta, Marketing Manager, at Fagerhult, and Min Lee, Marketing and Sales Executive at Löfbergs, to talk about their businesses, the fika box, and how the collaboration came about. Bringing people together is at the heart of their businesses Fagerhult and Löfbergs are two very different companies, especially in terms of what products they offer. However, one thing the two companies have in common is the desire to create a better everyday life for their customers. For Löfbergs, it is all about providing an outstanding coffee experience. Min from Löfbergs says: “The heart of our business is to bring great-tasting Swedish coffee to the UK. With more than 100 years’ experience in roasting coffee at our roasting house in Karlstad, Sweden, our goal is to share that knowledge and that passion for coffee with our customers.” For Fagerhult, it has always been about creating a lit environment that not only facilitates the day to day life, but also helps to improve the overall experience of users of the space. Scott says: “When you think about Sweden, it’s a country that is defined by extremities, like darkness and light, which is one of the reasons why light is such an important part of the culture. If you think about fire, the original light source, it’s always been used very practically
for keeping animals away, or to cook food, but fundamentally it brings people together. For us, it’s always been about creating a lit environment where people’s lives are facilitated every day. This light can help people and it can improve their lives”. Creating the fika box “The idea for the fika box originally came about from one of our sales engineers who used to go out to see a lot of architects. Architects are notoriously difficult to get a hold of and it’s hard to get into an architects’ practice. What the sales engineer found was that it was always way easier to reach the architects when he brought cake. Since we’re very fond of the idea of fika we decided to develop the idea of the fika box - which is basically just giving people the opportunity to enjoy a fika moment in a box!” says Marianne. In the fika box, you find everything you need for a proper fika moment; cinnamon buns, coffee and a card which explains the concept of fika. Marianne emphasises that as a company, Fagerhult is big on collaborations. So, when they wanted to find a Swedish coffee provider,
the SCC network felt like a natural starting point. “For us it was important to work with a Swedish business, a Swedish coffee provider for the fika box, and it was through the SCC that I found out about Löfbergs. We were very happy when Löfbergs agreed to work on this and to help promote the concept, and what the whole fika box is about. It’s also fantastic that the coffee package works beautifully in the box,” says Marianne. For Löfbergs, it was always a given to collaborate with Fagerhult on this project. “Fika is at the very heart of our business. Not only do we want to encourage more of us to fika here in the UK, but also to educate more people about what the concept of fika truly means. In that light it felt like an obvious choice to collaborate with a fellow Swedish business, so that together we can help spread the message,” Min adds. Promoting the concept of fika in the UK Marianne explains that it was important for them to include a fika card in the box so that people would understand what it was all about. She says: “The concept of fika is
Scott Allen, Fagerhult, Min Lee, Löfbergs and Marianne Trotta, Fagerhult. Photos: SCC.
What does ‘fika’ mean to you? actually widely unknown in the UK”. Marianne and Scott explain that at Fagerhult, they firmly believe that everyone in the UK should fika more which is one of the reasons why they developed the idea in the first place. Scott says: “People in the UK think that fika is a coffee break and many don’t understand the wider concept.” Marianne also highlights that people living in the UK have a lot to learn from the Swedes. “The Swedes are light years ahead of us in terms of lifestyle and how to deal with day to day struggles,” she says. Min from Löfbergs agrees: “It’s true, our colleagues in Sweden stop every day at 9.30 in the morning and 3 o’clock in the afternoon to have a fika moment. It’s part of their everyday routine.” Min continues: “However, in the UK, fika isn’t as well-known. Coffee is often enjoyed on the go or at one’s desk. Fika is so ingrained in the Swedish culture and for us at Löfbergs UK, it’s really about bringing a little bit of that ethos to our customers through the coffee service we provide.” So, what is fika? For anyone who is unsure about what fika
fee and cake. Fika has a great sense of calm and actually taking the time out to be with colleagues, friends or family. Fika isn’t a solo activity; it’s about sharing and collaborating. It can be in a café, at home, or at the office; and at any time of the day – I like that there’s quite an open flexibility about fika too.” Marianne agrees and adds: “Fika is one of those untranslatable words which is more of a concept, a state of mind than anything else. It’s a concept which we could all benefit more from in our day to day lives. We often don’t have the time for fika and we would love to change that. The whole thing about fika for us is, yes to enjoy a great cinnamon bun and coffee, but it’s really about stopping, stepping back, taking the time to just relax for a moment and enjoy the people around you.” What comes next? It seems as if the collaboration between Fagerhult and Löfbergs on the fika box was only the beginning of their relationship. In the midst of the talk, Marianne and Scott tell us about their upcoming project at the Clerkenwell Design Fair later this spring. During the fair, they will create a ‘Fika Lounge’,
Svend Littauer Founder, entreprenör
worked in many different cultures, I have “ Having found fika to be something truly special and very
Swedish. Many work environments have a constant buzz of social interaction, whereas the focused and efficient Swedes have scheduled fika breaks. This gives everyone an opportunity to take a break, spend time socialising and catching up with friends and colleagues. Although the food is incidental, the coffee has to be strong! The result being a happier and more productive team.
Astrid Trolle Adams Senior Associate, LOGOS
“ When I was working at a traditional institution in
Sweden for 18 months, phone lines were closed twice per day to make it possible for all employees to sit together. My idea for a productive and interesting “fika” meeting with fabulous cinnamon buns is to join forces in smaller teams, with an open mind as to who can and wants to join.
Scott Allen and Marianne Trotta, Fagerhult.
really is, the card included in the fika box offers the following explanation: “Often described as a ‘coffee and cake break,’ fika is a special tradition in the Swedish culture. Fika is a concept, a state of mind, an attitude. It means to take a pause in whatever you are doing to enjoy a great cup of coffee, a delicious pastry and a nice chat with colleagues or friends. ‘To fika’ is to slow down, recharge our brains and importantly, make time for those around us. Swedes make time for fika every day and so should we in the UK.” Marianne, Min and Scott all have similar ideas of what fika is, and share a mutual interest and love for this Swedish tradition. Min says: “I think it goes so much further than just cof-
where they will be serving Löfbergs coffee. This is a place they will invite people to stop and recharge their batteries from the hustle and bustle of the fair. “We want to have this little fika haven during the Clerkenwell Design Fair. We want people to come and join us for a nice cup of coffee, a nice bun and we want to promote the concept of fika. It would be a very nice way to collaborate with each other again,” says Marianne. The SCC is continuously working with introducing Member companies to one another as well as helping with initiating collaborations. In the SCC network, the examples of Member companies who have found each other are many, and one of these examples is the collaboration between Fagerhult and Löfbergs.
Jan Wiberg Area Sales Manager, Old Mutual International
“Imagine yourself having a long hike in the beautiful
outdoors on a clear and cold winters day. When the sun reaches you, you can feel that spring is around the corner. You take a seat on large boulder, heated by the sun and open the thermos with coffee and unwrap the freshly made cinnamon rolls you have brought along in your backpack. You can picture it, can’t you? Almost smell it? THAT is FIKA for me.
The LINK LONDON TECH WEEK
PREPARING FOR LONDON TECH WEEK During 10-14 June, as London Tech Week takes over with events across the city, London turns into a buzzing festival of networking and celebration of the best in tech. The Chamber, in collaboration with Danske Bank, Goodwille and Google, joins in on the celebrations by bringing together start-ups, unicorns and investors to Tech Forum and Tech Fest, at Google HQ, and by presenting London Bootcamp, a new one-week accelerator programme for start-ups. BY: JONAS EKLUND
Swedish start-ups get a boost at London Bootcamp London Bootcamp is a one-week accelerator programme for selected Swedish start-ups and is the outcome of a new collaboration between the Swedish Chamber of Commerce for the United Kingdom and the Swedish Agency for Economic and Regional Growth (Tillväxtverket). “We want to create a launch pad for taking that big leap every start-up is dreaming of,” says Arash Sangari, Programme Manager at Tillväxtverket. From day one, the selected start-ups will be drilled in everything they need to know about scaling up their businesses. During the week, they will meet with leading experts, take part in group sessions, network and have individual meetings with hand-picked investors, all leading up to their pitch at Tech Forum on 13 June.
Coaching from experienced professionals The programme features experienced professionals who themselves have successfully made the journey from startup to unicorn, and who will be coaching the participants for growth, investor-readiness as well as setting up and standing out in the UK. Tailored investor meetings As part of the programme the start-ups will get tailored individual meetings with investors, chosen from a roster of international UK-based investors. “Our aim is to give the entrepreneurs knowledge of the British market, an understanding of establishing in the country, and the opportunity to meet with high-level experts and investors. The ambition is that the participating start-ups return home with new business opportunities,” says Arash. Find out more about London Bootcamp at scc.org.uk/training/london-bootcamp.
Arash Sangari, Programme Manager at Tillväxtverket. Photo: Tillväxtverket.
The LINK LONDON TECH WEEK
Hottest topics of London Tech Week 2019 London Tech Week asked over 300 industry insiders and stakeholders about the hottest topics and key trends influencing the sector in 2019: 99 The tech investment landscape 99 The impact of Brexit 99 The skills gap and sourcing the next generation of tech talent Source: get.knect365.com/ltw-techxlr8-insights-2019/
Start-ups, unicorns and investors meet at Tech Forum How do start-ups go from being challengers to game-changing unicorns, and what role do investors play in that journey? On 13 June, the Chamber brings together startups, unicorns and investors at Tech Forum, to discuss the applications of technologies such as blockchain, AI, AR and VR - and what makes them successful. “It is our way to shed some light on the Swedish tech scene during London Tech Week,” says Peter Sandberg, Managing Director of the Swedish Chamber of Commerce for the United Kingdom. London is well-known for being one of the leading tech hubs in the world. In fact, according to a recent study by intelligence platform Quid, London is, together with Silicon Valley, topping the charts for start-up growth, global investment and research into the development of cutting-edge technologies. “Many Swedish businesses come to London to expand and raise capital. We created Tech Forum as a platform for tech businesses, startups and investors to meet and create new bonds,” says Peter.
Scaling future technologies The participants will explore different aspects of ‘scaling future technologies’, which is also the title of this year’s edition of Tech Forum. What are the main barriers for start-ups to adopt existing tech and unleash its potential in new applications? What made the unicorns the forerunners within their industries and how do they stay relevant after that big break? How do the investors foresee the potential of future innovations and how do they decide what to invest in? Exchanging thoughts and ideas “Our forums, such as the Life Science Forum and the Industrial Forum, always aim to create a platform for exchange of thoughts and ideas between Sweden and the UK, in different areas and sectors. Tech Forum is no exception. We want to give the participants an idea of what is in the pipeline for the next generation of tech, how established businesses and startups adopt existing technologies to create new products and solutions, and how that creates advantages on their markets”, says Peter and continues: “Sweden has, alongside with the
UK, Germany and the Netherlands, the largest number of unicorns in Europe. There is no doubt that the attractiveness of the Swedish tech industry is as strong as ever.” Tech Fest on Google’s rooftop As one of the highlights of London Tech Week, Tech Forum is succeeded by Tech Fest, hosted by Google on their rooftop. The event promises networking opportunities with tech companies, investors and features a pitching session with the participants of London Bootcamp. Find out more about Tech Forum at scc.org. uk/events/list/tech-forum-scaling-futuretechnologies.
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The LINK IN CONVERSATION
Mats Klingberg and Joakim Turesson outside Trunk Labs in Marylebone, London. Photo: Renz Andres.
WITH MATS KLINGBERG & JOAKIM TURESSON What happens when we bring together two SCC Members from different industries, that haven’t met before and that at a first glance don’t have too much in common? ‘In conversation’ is a new feature series – and podcast – where we do just that, and get them to talk about topics where they find common ground. BY: JONAS EKLUND
First up are Mats Klingberg, Managing Director and Founder of Trunk Clothiers and Joakim Turesson, CEO and co-Founder of Referanza. This is what happened when they met to discuss topics such as fandom, customer loyalty and how to make the most out of the offline experience in the online world. The introduction Mats: I founded Trunk Clothiers back in 2010. At that time, I had lived in London for five years. There was no shortage of menswear shops, but there was something still missing. Something that felt a bit more intimate, that
had a more tightly edited selection of clothes and that made it easier and more enjoyable for men that have very busy lives but still want to dress well, to find those pieces that were missing in their wardrobe. Trunk has been growing steadily since then. I have two shops now on Chiltern Street in London. Many of my customers are from London but many of them also come from LA, New York, Stockholm, Paris and Hong Kong. Since a while back I have a shop in Zürich, three shop-in-shops in Hong Kong, one in Shanghai, and I’m opening in Chengdu this autumn.
Joakim: We started Referanza almost four years ago with the goal to turn satisfied customers into fans or ambassadors. With our platform, we find people that are very high on their experience, today mostly within sports and entertainment, and having them talk about their experience and hopefully influencing their friends to do the same thing. We are growing steadily in the Nordics, but I’m in London now since we see London and the UK as a major market. Entertainment and sports are huge here. We’re now partnering with Ticketmaster, the biggest ticketing platform globally.
The LINK IN CONVERSATION
The Podcast The conversation goes on beyond what you can read in The LINK. Listen in on the whole conversation between Joakim and Mats at scc.org.uk/ focus/in-conversation-episode-1
Joakim Turesson (left) and Mats Klingberg (right) at the SCC. Photo: SCC.
What we must do now is to prove our platform in other markets. It could be interesting for us to collaborate on men’s clothing for example. I mean, we know that friends trust their friends, so that’s pretty much what it’s all about. On fandom and customer loyalty Mats: For me it is new to talk about fans. Of course, I get it, and I will start thinking about my customers and look at who the fans of my business are. The way I would define it is that a loyal customer is someone who shops with my business on a regular basis. A fan is someone that spreads the word and talks about how great I am. It might not be the highest spending customer but it’s someone that is an ambassador and a good spokesperson for what my business is all about. What do you think Joakim? Joakim: I totally agree. Every business has customers. You might have the satisfied customers, but then if you have customers that are so happy and satisfied with what you are doing, you can actually turn them into fans. As you said Mats, a fan is a spokesperson for a brand or a thing that they bought or experienced. I guess that the main difference would be a customer, a super satisfied customer and a fan that goes beyond that. But as you said, a fan doesn’t need to be a customer themselves. You can have a fan that hasn’t experienced your menswear. Instead, someone has seen your clothing on Instagram, loves it and talks about it.
Today you can create fans just by being very active on social and in conversations with potential customers. Especially in the ticketing industry, people are starting to talk about things that they are going to attend. Just out of the fact that I’m going to do it, is a really good conversation starter. Mats: And of course, historically this was done by word-of-mouth, which is still very much the case for my business. This is where your business presents the opportunity to track, analyse and orchestrate it behind the scenes, to keep the conversation and dialogue going. That is something I will think about; how can Trunk get better at word-ofmouth in the digital world and take it to the next level? Joakim: Speaking of customer loyalty, what we’re seeing now is a totally new version of customer loyalty. It has up until now been about how much a loyal customer spends. Instead, we’re moving into an era of greater ‘social loyalness’, where the currency is not in pounds or in kronor, it’s rather in likes or shares or in presence in social. An interesting thing is how you can turn the offline purchase and the offline customer experience into a growing digital business. That would be very interesting to collaborate on. Mats: For sure. With your system, we could get more systematic about how we work with the customers we have. So I’m interested to continue this conversation beyond this session.
On word-of-mouth marketing Mats: I think, just by doing a Google review, you’re not really targeting your friends. This is where direct messaging channels like WhatsApp are quite relevant now. Maybe there will be other ones like this in the future. I don’t know, would people have their own Referanza app to share their thoughts with their friends? Or would you partner with WhatsApp for instance? Joakim: We are partnering with WhatsApp, Instagram and Facebook, but it’s a very interesting idea. In our case, since we consider shares and recommendations as a social currency, how can you use that social currency to buy airplane tickets or change it into a bottle of shampoo? An app would definitely be a way to move forward with that. Mats: And generally, it is people who like what you do that want to refer to other customers. There are a lot of negative comments out there on TripAdvisor and other sites. It’s a very wide spread of comments and it’s incredible how many both positive and negative comments you get. This is where it’s been quite challenging when it comes to word-of-mouth in the digital world. I’m all for that the customer is king, but to some degree this comes down to the internet over all. It’s gone a bit out of control, and I think you need to insert some decency and common sense in there as well to make something good out of it.
The LINK IN CONVERSATION
On target groups Mats: We probably have lots of similarities and maybe differences. My target group, they are generally between 35-55, they are educated, they are in senior positions in either their own companies, or in a big global organisation and they travel the world frequently. Who is your customer? Joakim: I would guess that your customers are the perfect customers of our customers. We know for a fact that a person that buys a specific brand of clothing, is also test driving a specific car and is also buying pretty expensive arena tickets. I would look at it from a bigger perspective. I think it would be good for different brands that have the same kind of clients, to start working in new collaborations. It might actually be that some of our clients, the ticketing companies that we work with in music, theatre or in sports, would be a perfect match for you to work with. I would guess that the same kind of customers that you might have in your store, are a good social word-of-mouth target group. Some of them haven’t had Facebook for more than a couple of years. They might have 10, 30 or 100 followers, but they are very homogenous in their way of talking to each other so recommendations and referrals in that case are extremely high-converting. Why is that? Again, I trust my friends.
Mats: In general, these guys have closed Instagram accounts. I believe that most of my customers are not influencers in that sense. We’ve been looking at our customer base and we’ve not really come across any influencers. But they do have their own accounts where they share information with their friends. You don’t necessarily see them in your own database but they’re obviously there. They have smaller groups of followers which means that maybe they’re even more loyal than those with 100,000 followers. Joakim: You just came up with a totally new word for us – ‘friendfluencer’. Mats: Did I say that? Joakim: Or ‘fanfluencer’. That might be the new influencer. Mats: Yes, because that’s very different. I wonder how long these influencers can stay relevant. There are obviously so many paid partnerships and it’s not really genuine. A lot of these influencers are getting away with it now, but I wonder how long will that last for? I’m not sure. And maybe they need to be replaced by ‘friendfluencers’.
Rounding up Mats: This has been a great conversation. Thanks to the Chamber for bringing us together. Obviously we are in the same space. We all need customers and to spread the word. To be able to communicate and spread the word of Trunk is something I’m looking at and how I can do it better. I haven’t been great historically in digital and this could provide a great opportunity for Trunk. So, I’d like to continue this conversation going forward. Joakim: Me too, definitely. Since we’ve done so much within digital, it’s fascinating and exciting to look at the offline world and how we can turn the offline experience to online. I’m also very interested in keeping in touch with and talking to Mats, also being a successful entrepreneur, who’s put up stores in different countries. I’m looking back at the thresholds that we have in our business to grow organically, hopefully in new markets. I’m sure you also have a couple of tips and tricks up your sleeve, the ‘what to do’s’ and ‘not to do’s’, such as how you would enter a new market, especially here in the UK. I’m really looking forward to getting your expertise and experience on that.
At Trunk Labs in Marylebone, London. Photo: Renz Andres.
Giving your capability the edge
For over 40 years Saabâ€™s UK operations have delivered advanced defence and security systems to the UK, working with our customers to meet the demanding challenges they face at home and abroad. Our extensive supply chain across the country supports thousands of British jobs whilst bringing together the best of Swedish and British innovation for the international market. Learn more at saab.co.uk
The LINK FEATURE
Course participants at the ‘Making sense of Britain’ course. Photos: SCC.
Broader perspective on business culture BY: ERIK HELLDÉN As the first participants completed the new SCC Business Culture Foundation Courses, ‘Making sense of Britain’ and ‘Making sense of Sweden’ in the beginning of March, it is clear that cultural differences in the workplace is something most of us can learn to handle, if we spot the differences. “It really gave me a wider perspective on what to expect when cooperating with British companies,” says one of the course participants, Anousheh Abuhamzeh, Head of Recruitment at Jurek Recruitment. The courses ‘Making sense of Britain’ and ‘Making sense of Sweden’ aim at providing participants with the tools to understand and tackle differences between Swedish and British corporate cultures. The courses featured a range of Swedish and British speakers from different industries. As business culture affects everything from general strategy to interpersonal communication, each part was divided into six shorter sessions that focused on different areas of business. Collaboration between Sweden and Britain will only continue to grow Sweden and Britain have a long history of trading together, but the cultural differences between the countries can be bigger than one might think at a first glance. Benjamin Webb from Deliberate PR spoke on both the ‘Cultural’ and ‘Communications’ sessions of the courses. According to him, there are several major distinctions between Sweden and Britain in terms of history, identity, as well as social and corporate
behaviour. The courses successfully navigated these differences to ensure that the two ultimately complementary cultures fulfil their potential to cooperate to the benefit of all involved. “By the time that this article is published, Brexit may or may not have happened, but, irrespective of this outcome, the affection and professional collaboration between Sweden and Britain will only continue to grow,” he says. “I believe this course helped representatives from both nations to acquire the skills and insights necessary to benefit from this ongoing relationship.”
“The course was very helpful to see how I can adapt my own style to better suit the company I work for.” - Samuel Martin Getting a broader perspective on what to expect Course participant Anousheh Abuhamzeh, Head of Recruitment at Jurek Recruitment’s newly established UK branch, recently relocated to the UK. “As a newly established company in the UK, it was very helpful for us to get a broader understanding regarding the differences in British and Swedish business culture,” she says. “I would recommend all the newly established companies in the UK to participate in this course, it really gave me a wider perspective on what to expect when cooperating with British companies.”
Adapting your style to better suit the company you work for According to Elisabet Vinberg Hearn, Katapult Partners, who spoke on the ‘Leadership’ session of the course, we need to “reset” our understanding of what is expected of us when we start working in a different business culture. This has been apparent for course participant Samuel Martin who works for Nordic Entertainment Group, a company with a predominately Swedish workforce. The course ‘Making sense of Sweden’, he says, helped him better understand the people that he works with. “The countries are very similar, but there are some key differences. Sometimes, in meetings or during a conference call, I haven’t completely understood why an action has been taken or why we’ve gone down a particular route,” he says. “The course has been very helpful to see how I can adapt my own style so that I can better suit the company I work for.”
The LINK ADVERTORIAL
Britain will always be open for business: 5 tips to secure UK success
Goodwille, a Patron of the Swedish Chamber, have been helping Swedish businesses with their expansion to the UK for over 20 years. Alexander Goodwille, who recently celebrated his second year as CEO, shares his top 5 tips to give you the best chance at UK success.
Alexander Goodwille, CEO of Goodwille. Photo: Goodwille.
Pitching your products and services
International expansion is a noble goal, but you can’t hope to succeed unless your business is sorted at the local level. It’s not just about ensuring you have the funds to cover expansion either. Growing your business into new markets will take a lot of your time and focus. Unresolved problems in your local marketplace will inevitably interrupt your dedication and expansion plans. If the problems are serious, it could even hamper the success of your expansion, so make sure you have a firm footing before you leap.
Build on previous successes
If your product or service has been successful in Sweden, there’s no reason to think that it will not achieve similar or even greater heights following your UK expansion. In fact, the more success you have had at ‘home’, the more likely you are to succeed in a new location. Remember that the UK market is highly competitive, so be sure to capitalise on your successful track record as it will make your UK pitch much stronger.
Choose the right location
The location that you choose for your new UK office is very important to your success. There are a number of factors to consider, including whether your business is sales or product driven. You must also research potential talent pools, since recruiting the right staff will be essential to the success of your new venture. Ease of travel by road, rail and air are also very important aspects of your location to consider, especially if you are intending to commute regularly from Sweden. Logistics are also very important if you have a product to distribute and locating your business somewhere central to the main motorway network may also be something that is important from both a practical and costings perspective. There are often government grants available, designed to attract businesses to certain regions, so it can be worth looking at cities other than London.
Make sure you’re ready, not just wanting
No matter how many times you’ve successfully sold your products and services in your home country, your pitch needs to be tailored to meet local standards when you enter a new market. In some cases, a few minor tweaks to your content or format may be all that’s required. However, in some cases, a total overhaul might be necessary to reach your target market. When researching the UK market, be sure to look at potential changes to your pitching early so that you are well-prepared and not taken by surprise by cultural differences.
Do your research and ask for help
It’s beyond important that you invest as much time as possible to understand your new marketplace. It sounds obvious, but the expansion process can be easily stalled by unexpected issues. Learn how the UK market operates and what it requires. Not only will it make your entry as seamless as possible, it will also give you the best possible chance to achieve success in the long run. Consider every aspect of your operation from supply, through delivery, and into customer aftercare. Make sure you spend enough time in the UK and get to know the new market properly. Do not underestimate the importance of local partners, like Goodwille, that can guide you through local regulations and introduce you to the right people!
To find out more about how Goodwille can support you with your UK expansion, or existing UK operation, please contact me directly on firstname.lastname@example.org.
The LINK FEATURE
From Swedish bread boxes to global packaging solutions BY: ERIK HELLDÉN SCC Member Nefab Packaging is a global industrial packaging manufacturer specialising in complete packaging solutions with roots in the dense forests of Sweden. The LINK met with Christopher Fuchs, Managing Director at Nefab’s UK branch, to talk about the company’s journey, what it is like to work at a Swedish company and how the Swedish mentality continues to permeate Nefab’s corporate culture. Nefab’s journey began when carpenter Sigurd Nordgren opened a shop in Hälsingland, Ovanåker, in 1923. At the time, the business was small and focused mostly on bread boxes made out of plywood and band-steel. But when his sons took over in 1949, they started to receive larger orders and decided to establish the company Nordgrens Emballage FABrik (NEFAB) in Runemo, a remote and densely forested area in the north of Sweden. During the decades to come, they grew and started looking at markets outside of Sweden. The expansion began with the European market and spread to the Americas and Asia. Today, they are a global service company with around 2,600 employees and production sites, warehouses, laboratories and offices in over 30 countries. Being Swedish positive in the UK market The UK branch was established in 2001. Christopher Fuchs, Managing Director of the UK branch, believes that even though the company has gone through substantial changes throughout the years,
they have still held on to the same spirit. “Every company has a specific culture,” he says, “but there are certain values that are specifically Swedish that have always affected Nefab’s corporate culture. The hierarchy remains flat, for example, and the discussions are quite direct and the decision paths short.” In the UK, he says, it is especially positive to be associated with ‘Brand Sweden’. When discussing certain aspects of everyday life and societal functions overall, Sweden is often taken as a positive example. This gives a company like Nefab a benefit in the UK market. “The only time that it isn’t always positive to be associated with Sweden in the UK,” Christopher says, “is when Sweden is playing England in football”. Sustainability part of the business strategy In 2008, Nefab joined the UN Global Compact initiative, a global strategic business initiative on corporate responsibility. As part of the initiative, they have designed tools to conduct a ‘Life Cycle Analysis’ of the environmental impact of their packaging solutions from the raw materials phase, through the use phase to the end of the product’s life. They calculate a number of parameters, such as global warming potential (GWP) or water consumption, by which they can measure impact at each stage in the cycle. By this technique, they enable customers to understand the impact of the packaging solutions. The sustainability team is also
Hemgården, where Sigurd Nordgren founded his carpentry. Photos: Nefab.
working to ensure that they are on the forefront of new environmentally friendly materials. “These initiatives are very important to us,” Christopher says, “and I think that a lot of people that work for Nefab, regardless of nationality, are working here because they stand by these values.” When asked if Nefab’s Swedish roots could have affected these initiatives, he answers: “Absolutely. I think it’s almost baked into the Swedish mentality”. In that sense, he says, Nefab stays true to the values established by the carpenter’s sons in the forests of Runemo.
Nefab’s Life Cycle Analysis calculates the environmental impact of their packaging solutions in order to reduce customers’ overall carbon footprint.
The LINK PREVIOUS EVENTS
BUSINESS BREAKFASTS INTIMATE ROUNDTABLE DISCUSSIONS FOR PROFESSIONALS In October last year the Chamber organised its first Business Breakfast – a concept that brings together a wide range of great speakers with tailored and differently composed intimate groups of professionals for interactive roundtable discussions. Diverse speakers and topics Since the start, the Business Breakfasts have featured diverse speakers like Neil Cassley, Senior Communications Manager at PayPal, Mark Prisk MP and Iain Macbeth, Head of Foresight, Transport for London, sharing their knowledge and initiating discussions on subjects such as PR and marketing, Brexit and the future of transportation.
Maj-Britt Krejcir (SEB) and Dr Björn Savén (IK Investment Partners Ltd)
Catering to the many requirements of the Members “The purpose of the Business Breakfasts is to present a variety of themes and topics, that cater the many requirements of the Members. Whether you are a CEO, HR professional or a Legal Advisor, there will be a Business Breakfast with enlightening discussions that suits your interests,” says Anna Ericsson, Events and Programmes Manager of the Swedish Chamber of Commerce for the United Kingdom. Upcoming Business Breakfasts Some of the upcoming Business Breakfasts feature Martin Ingemansson, Managing Director Nordics at Facebook, Michael Sheren, Senior Advisor, Bank of England and Kristina Lindhe, CEO and Creative Director at the Lexington Company. Curated participant lists To attend a Business Breakfast, you need to register your interest on the SCC website. Participant lists are curated with the theme of each Business Breakfast in mind, for all attendees to get the most out of the discussions. See all upcoming Business Breakfasts at scc.org.uk/events.
Carsten Amdi Jensen (Danske Bank)
Previous speakers Patrick Smith, CEO and Founder, Adwaiz Limited Iain Macbeth, Head of Foresight, Transport for London Mark Prisk MP Jace Tyrrell, Chief Executive at New West End Company Jonas Wikmark, Managing Director, Head of Nordic Corporate Finance and M&A, JP Morgan Neil Cassley, Senior Communications Manager, PayPal Professor Simon Anholt
Jonas Eklund (SCC)
The LINK PREVIOUS EVENTS
Mark Prisk, MP
Magnus Lewis-Olsson (SAAB)
David Acosta (GHS) and Min Lee (Lรถfbergs)
Business Breakfast at Adwaiz
Mike Johnstone (Volvo Car UK Ltd)
Robert Hermann (Gunnebo Entrance Control)
The LINK PREVIOUS EVENTS
LINK UP DRINKS AT GOWLING WLG 13 FEBRUARY The first Link Up Drinks of the year were hosted by Gowling WLG at their riverside offices, with beautiful views over London and the river. As is customary at the Link Up Drinks, new Members of the Chamber introduced themselves during the evening, thereamong BKL, Casall, Verdane Limited, North Star Law and Vaneo Capital. Throughout the evening, guests were offered to taste a wide range of different wines, including some delicious British bubbles.
David Simpson (BKL), Geraint Jones (BKL) and Per Henrik Stjernstrรถm (Vaneo Capital Ltd)
Simon Russell (BKL) and John Reed (Gowling WLG)
Richard Hildebrand (TandonHildebrand), Julian Henwood (Gowling WLG) and Tania Tandon (TandonHildebrand)
Mustafa Mustafa (Fidel Ltd) and Sabrina Johnson (Drivy)
The LINK PREVIOUS EVENTS
Jonathan Kingham (North Star Law Ltd), David Brennan (Gowling WLG) and Helen Smith (North Star Law Ltd)
Sparkling wine tasting
Jonathan Kingham (North Star Law Ltd) presenting
Mikael Angesjรถ (Casall) and Astrid Trolle Adams (LOGOS)
Simon Bussell (BKL) and Emanuel Johnsson (Verdane Limited)
Adam Strong and Sofia Rosenblad (SCC)
The LINK PREVIOUS EVENTS
MENTORSHIP MEET-UP 5 FEBRUARY The SCCâ€™s Mentorship Programme offers a unique opportunity for young professionals to take part in a twelve-month programme with individual mentoring by experienced senior industry professionals from across the SCC network. The first meet-up between the Mentors and the Mentees was kindly hosted by Handelsbanken Wealth Management. Programme Director Dr Aarti Anhal welcomed the participants before they engaged in workshops, speed dating and networking.
Kevin Connors (Nordea), Axel Gustafsson and Tomas GĂ¤rdfors (Norton Rose Fulbright)
Omar Sheikh, Johanna Bjarsch Follin, Eric Pettersson and Richard Hildebrand (TandonHildebrand)
Some of the Mentors and Mentees
Speed dating in action
The LINK PREVIOUS EVENTS
BUSINESS CULTURE FOUNDATION COURSES 7 & 8 MARCH In March, the Chamber welcomed participants to the new SCC Business Culture Foundation Courses ‘Making sense of Britain’ and ‘Making sense of Sweden’. The aim of the courses is to give participants insight into both Swedish and British business cultures and provide the necessary tools to excel in each country’s workplace environment or corporate structures. The speakers provided tools, learnings and nuances in British and Swedish business cultures, and shared their personal stories about misunderstandings and situations caused by cultural differences.
Felix Grönqvist (Embassy of Sweden)
Åsa Hillsten (Catena Media), Maria Slytå (Vistra), Mikael Angesjö (Casall), Ranj Begley (Readly) and Robert Speed (Kreab)
Elisabet Vinberg Hearn (Katapult Partners)
The LINK UPCOMING EVENTS
Upcoming events Nordic Drinks 25 April | The Rembrandt Hotel, 11 Thurloe Pl, London SCC Member Price: FREE YP Member Price: FREE Non-Member Price: FREE For the first time, the SCC will join forces with the Norwegian, Finnish and Icelandic Chambers of Commerce and the Danish UK Association in the UK for Nordic Drinks and we welcome all our Members and friends to join us.
Business Breakfast feat. Lisa Poole, Director Public and Regulatory Affairs UK, Vattenfall
16 April | Nordea, 5 Aldermanbury Square, London SCC Member Price: £25 Non-Member Price: £50 Lisa Poole joined Vattenfall, one of Europe’s largest generators of electricity and one of the largest producers of heat, in early 2018, after having served as Director of Public Affairs and Policy at Centrica plc, as well as Director of Public Affairs at British Gas. The discussions will be chaired by Chris Philipsborn, Managing Partner, Kreab London.
MEET Johan Lundgren, CEO of easyJet 07 May | Aquavit, 1 Carlton St, St. James’s, London SCC Member Price: £45 YP Member Price: £45 Non-Member Price: £90 With over 30 years of experience in the travel industry, Johan Lundgren joined easyJet on 1 December 2017 as Chief Executive Officer. Since joining, he has made significant investments in data as well as AI to enhance the customer proposition, reduce costs and complexity, and increase revenue. Seize this opportunity to meet Johan and take part in an interactive discussion at Aquavit in central London, where food and drinks will be served throughout the evening.
Business Breakfast feat. Andrew Mitchell, Business Breakfast feat. Martin Ingemansson, Managing Director Nordics, Facebook
25 April | DNB Bank, The Walbrook Building, 25 Walbrook, London SCC Member Price: £25 Non-Member Price: £50 Get insights into Facebook’s expansion in the Nordic region in this Business Breakfast featuring Martin Ingemansson, Managing Director Nordics at Facebook. This is an intimate roundtable discussion where you have the opportunity to interact with Martin and the other participants. The discussions will be chaired by Axel Berning, Head of Corporate Banking CEMEA at DNB Bank London Branch.
H.M. Trade Commissioner for Europe
09 May | SEB London, 1 Carter Lane, London SCC Member Price: £25 Non-Member Price: £50 Andrew Mitchell was appointed Her Majesty’s Trade Commissioner for Europe in July 2018. Andrew is responsible for the British Government’s work to promote trade and investment with 32 countries around Europe. The event aims at discussing his views on future trade and impact on the relationship between Sweden and the UK.
The LINK UPCOMING EVENTS
Business Breakfast feat. Michael Sheren, Senior Advisor, Bank of England
21 May | DNB Bank, The Walbrook Building, 25 Walbrook, London SCC Member Price: £25 Non-Member Price: £50 We have the great pleasure of featuring Michael Sheren, Senior Advisor at the Bank of England, in this Business Breakfast on the financing of the transition to a sustainable global economy.
Tech Forum - Scaling future technologies 13 June | Google UK, Six Pancras Square, Kings Cross, London SCC Member Price: £45 YP Member Price: £45 Non-Member Price: £90 How do start-ups go from being challengers to game-changing unicorns? What role do investors play in their journey? At this year’s Tech Forum we explore the future tech landscape as we bring together start-ups, unicorns and investors to discuss the applications of blockchain, AI, AR, VR and other technologies, and what makes them successful. Tech Fest will follow the Tech Forum on the rooftop of Google HQ.
Link Up Drinks with BYREDO 21 May | BYREDO London, 40 Lexington St, Soho, London SCC Member Price: FREE Non-Member Price: £30 Welcome to our Link Up Drinks, hosted by BYREDO at their flagship store in Soho. This event promises excellent networking opportunities, Champagne and canapés. As is customary with the Link Up Drinks, new Members of the Chamber will introduce themselves during the evening.
112th Annual General Meeting & Lunch 05 June | Central London, TBC Price: TBC
Business Breakfast feat. Kristina Lindhe, CEO and Creative Director, the Lexington Company
25 September | DNB Bank,The Walbrook Building, 25 Walbrook, London SCC Member Price: £25 Non-Member Price: £50 Kristina Lindhe is the Founder, CEO and Creative Director of the Lexington Company, a global lifestyle brand represented in over 20 countries with a wide range of home and apparel products in its portfolio. Join this roundtable discussion and hear about her journey, and how it links with export, leadership, digitalisation, and her take on what traditional brands need to think of now.
Please save the date for the 112th Annual General Meeting. The AGM (Members only) will be followed by a buffet lunch (non-Members welcome).
The LINK INTRODUCING
Introducing Anna Crona The new Business Service Manager of the Swedish Chamber of Commerce for the United Kingdom Welcome to the Chamber, Anna. Can you tell us a bit about your background? I have extensive experience in marketing, brand strategy, concept development and communication with IKEA. I have worked with global concept and communication development and I have been responsible for IKEA’s web development and internationalisation of the brand online. Last, I was Marketing Director UK and Ireland. Together with my team, we ran all parts of marketing and communication, ranging from store solutions to campaigns. After 25 years I left IKEA and established a Swedish creative digital production company, Stopp, in the UK market together with a partner. I have also been working independently as Advisor and Non-Executive Director. What made you decide to join the Chamber as the new Business Service Manager? I missed the operational side of building, growing a business and being part of a dedicated
team. I saw the unique opportunity to be able to contribute to establish and grow Swedish and British businesses, a great combination of the two countries that I consider being my home(s). I also saw a great fit for my experience and interest in entrepreneurship and tech development. The Chamber is such a great platform to nurture innovative companies, support with tools, guides and provide valuable connections to support their focus and growth. Photo: Renz Andres.
The Business Service Manager position is new to the Chamber. What will be your main focus and how will you develop the range of services offered? The Chamber has of course served companies before with market research, ‘starting up a company in UK’, matchmaking, delegation visits, etc. What we are doing now is organising ourselves, clarifying our offer and sharpening the services. We will be more focused on the areas where we see the strongest need and
SWEDISH FIKA? OR A NEW JOB WITHIN FINANCE? WE CAN GIVE YOU BOTH!
C O N S U LT I N G
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where we see that the Chamber has an important role to play. We see not only ‘Starting up in the UK’ as part of this focus but also mentorship and training programmes for acceleration and inspiration, such as our upcoming ’Growth Readiness Mentorship Programme’ for startups. And of course, serving our British clients looking for connections and support in taking a product and company into the Swedish market. Get in touch: email@example.com
The LINK IN OTHER NEWS
In Other News Visit Sweden launches the world’s biggest gourmet restaurant
A bit of West Sweden in North East England
Together with four Swedish Michelin-starred chefs, SCC Member Visit Sweden is launching ‘The Edible Country’, a 100-millionacre-DIY gourmet restaurant, in an effort to highlight the wealth of natural food that Swedish nature has to offer. The restaurant’s menu consists of nine courses that visitors cook themselves from ingredients found in the wild at wooden tables that have been placed in different locations across the country.
A collaboration between National Garden Scheme (NGS) and ‘Gardens in West Sweden’ will see a Swedish public garden built in Saltwell Park, Gateshead - one of the top ten parks in the UK.
“Our nature is filled with edible ingredients and we want to invite the world to enjoy them, and at the same time wind down in nature like us Swedes do. By using our star chefs’ menu, this new and innovative DIY culinary experience makes it possible for visitors to explore and transform nature into gourmet food themselves,” says Jennie Skogsborn Missuna, Chief Experience Officer at Visit Sweden.
The garden marks an important step in the development of a closer relationship between West Sweden (Region Västra Götaland) and North East of England by providing spaces for educational, economic and cultural exchange between the regions. A relationship that marks its 10th anniversary this year. The Swedish community and its British friends will be able to use the garden for social and business events. The biodiverse garden will attract pollinators like butterflies and bees, and visitors will be able to enjoy elements from Western Sweden’s coastal landscape, a meadow area and a woodland. The garden, which is planned to be permanent, opens its gates for the public in August. SCC Member Husqvarna UK Ltd is one of the project’s main sponsors.
Sweden gets its first new airport in 19 years In December 2019, Sweden will get a new airport for the first time in 19 years. In the midst of Sälen’s mountains, the ‘Scandinavian Mountains Airport’ is being built on a small airfield on the Swedish side of the border to Norway. According to the CEO of Scandinavian Mountains Airport, Brett Weihart, the infrastructure is state of the art and will provide accessibility right in the heart of the region that hosts Sweden’s and Norway’s largest alpine destinations. “With improved infrastructure, we take another step in the development of the new large region that is growing. Through better accessibility for both Swedish and international guests, we contribute to increased growth and more jobs in the region, while helping other stakeholders expand their business,” says Brett.
Mon - Sat 9.30am to 5.30pm & Sun 11am to 4pm 25 Bedford Street, Norwich NR2 1AG www.galleryinthelanes.co.uk
The LINK YOUNG PROFESSIONALS
We have been busy during the first three months of the year. Workshops, company visits, and company insights are only a few of the events that we’ve organised. At the workshop with the digital storytellers Adwaiz, our Members got the chance to improve their social media skills. In March we organised an event almost every week, starting with the company visit at the large Swedish online-gambling firm Kindred Group, followed by company insights at the Icelandic law firm LOGOS. Only a few days later, we invited our Members and their friends to a well-deserved networking drink at the newly opened immersive bar Mr Fogg’s Society of Exploration. On 5 February, we organised the first meet-up for this year’s Mentorship Programme. The event was kindly hosted by Handelsbanken Wealth Management and together all the Mentor and Mentee pairs enjoyed an introductive session including a workshop, teambuilding activities, networking and drinks. We have also organised an after-work drink for all the Mentees to network and share experiences. We will very soon announce more information on our big summer celebration – Young Professionals 25 years (YP 25). The event will bring together both old and new YP Members as well as their friends for a joyful event in a summer setting. Make sure to save the date in your calendar, because you do not want to miss out on the biggest happening of 2019. Finally, we want to give a warm welcome to our two new Committee Members who will help us develop the YP strategically: Matthew Blakemore and Louisa Adde. If you haven’t met them already - say hi to them at our next event! All the best, Nathalie, André & Linnéa
Nathalie (Swedish Youth Abroad Scholar), André (Stena Scholar) & Linnéa (Lund University Scholar)
UPCOMING YP EVENTS SPRING 2019
Parliament Visit with Lord Adonis
Lord Adonis has kindly invited us to the UK Parliament for a discussion on Brexit and the future of the UK. Members-only.
Join us for the Nordic Drinks at the Rembrandt Hotel.
Tech Forum - SCC Event
The event of the year is getting closer. YP 25 will be something out of the ordinary so bring your friends and help us make this into a fantastic event. Stay tuned for more information.
Nordic Drinks - SCC Event
How do start-ups go from being challengers to game-changing unicorns? The Tech Forum is part of the SCC’s London Tech Week programme events.
The LINK YOUNG PROFESSIONALS
Spring Kick Off
We welcomed both loyal YP Members and their friends to the Spring Kick Off at Albertâ€™s at Beaufort House. It was a lovely event and a great way for all the attendees to meet and network with other young professionals living in London.
Social Media Workshop
We were invited to the offices of the full-service digital marketing agency Adwaiz, to learn all about social media. We were challenged during the workshop to create a marketing strategy for a new up and coming phone app. Thanks to Adwaiz for hosting us and to everyone who joined us during the evening.
More photos available on our Facebook page. Young Professionals of the Swedish Chamber
Young Professionals of the SCC
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W I L S O N C R E AT I V E . S E
An intensely Scandinavian experience
The LINK YOUNG PROFESSIONALS
Company Visit at Kindred Group
We were invited to Kindred Groupâ€™s offices in Wimbledon, the workplace of one of our YP Members. We networked and listened to interesting presentations on the online betting industry. Thanks to Kindred Group for hosting us and to everyone who joined us for this company visit!
Company Insights with LOGOS
On 20 March we visited the law firm LOGOS. During the evening we enjoyed insightful presentations, networking, food and drinks. Some of the themes highlighted were differences between Swedish and British business law, Brexit and the importance of negotiation skills. Many thanks to LOGOS for hosting us and to everyone who came.
More photos available on our Facebook page. Young Professionals of the Swedish Chamber
Young Professionals of the SCC
- en oas i London café
Svenskt kaffe & hembakta kanelbullar, svenska dags- och veckotidningar. Här finns alltid någon att prata med! Fritt WiFi & gästdatorer med skrivare. Anslagstavlor med tips på boende, jobb och vad som händer.
mötesplatser & kyrka
Ung i London, Öppet hus/Stay & play, Syjunta, soppluncher, lunchkonserter, Seniorträffar, föredrag, utställningar. Alla-kan-sjunga-kör, barnkör, kyrkokör, seniorkör. Gudstjänster, dop, vigslar och konfirmandundervisning.
vill du bli ungdomsvolontär hos oss under 2020? sociala medier Ansök senast 19 april - mer info här: www.svenskakyrkan.se/london
öppettider kyrka & café Måndag - tisdag 10-17 Onsdag 10-19 Torsdag - lördag 10-17 Söndag 12-15 Gudstjänst varje söndag kl 11
www.svenskakyrkan.se/london facebook.com/svenskakyrkanlondon Instagram: @svenskakyrkanlondon
kontakta oss/bli medlem
Telefon 020 7723 5681 firstname.lastname@example.org https://member.swedishchurch.com Om du är i nöd 07584 054143
aktuellt: ”Välkommen, vår” - 27 april Sommarkonsert - 20 juni
”Songs of eternal desire” - 28 april
6 harcourt street, london W1H 4AG svenskakyrkan.se/london
svenskträffar utanför london se webben för mer information
Se webben för mer information!
Print in Good company!
THE SWEDISH CHAMBER OF COMMERCE FOR THE UK
» The SCC use Rival
for printing services – in fact you’re looking at our printing NOW!
TRUNK CLOTHIERS & REFERANZA
On fandom & customer loyalty
FAGERHULT & LÖFBERGS The love for ﬁka brought them together LONDON TECH WEEK Join in on the celebrations at London Bootcamp & Tech Forum
ISSUE 345 - APRIL 2019 1-10.indd 1
CONNECT WITH THE INDUSTRY AT THE EVENT FOR DIGITAL MARKETING
Debatable Issue 14 – November 2013 | Souvenir Edition
A summary of the debates held in the House of Commons by the UK Youth Parliament, 15th November 2013
“Democracy is such a beautiful thing – I want a piece of that” (Georgina Hands, MYP for Lincolnshire Central)
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The LINK HUMBER CHAPTER
Let’s get it done! Chapter Chairwoman Camilla Carlbom Flinn on Brexit and business Humberside The British Prime Minister Theresa May firmly put Grimsby on the Brexit map by choosing our town to tell the UK and Europe “Let’s get it done!”. This often-overlooked region with the ports of Hull, Immingham, Grimsby and Goole, is a giant in terms of international trade. We proudly boast about being the UK’s Energy Estuary. The Humber is home to the UK’s busiest ports complex by tonnage, serving industry sectors including offshore renewables, advanced manufacturing, food processing, energy, and an import hub for Scandinavian forestry products. Grimsby is a centre of excellence in Offshore Wind, a success story that’s helped revitalise the local economy with millions of pounds of inward investment and job creation. The Humber is Theresa May’s jewel in her
renewables crown. Yet the region voted in favour of Brexit by 69.9%, despite being so dependent on international trade. In Immingham, Chamber Member DFDS, has increased its footprint in the port of Immingham by 10% as part of its preparations for Brexit and hired 15 new staff. Andrew Byrne, Managing Director of DFDS at Immingham, says their worst-case scenario would be a ‘no-deal Brexit’, with a customs declaration per item. A 30 second delay on processing every unit, could block the port within 2 hours – with similar disruption for foreign trade in every port across the UK. So the Humber Chapter waits along with the rest of the world to see if Theresa May will “get it done” and keep Britain trading, especially on the Humber! WORDS: CAMILLA CARLBOM FLINN
Member survey 2018 In November last year, we surveyed all Members of the SCC network in order to get insight about what we can do to make sure that everyone gets the most out of their membership. “We are very happy to see that Members value the membership highly and are pleased with the quality of the events we provide,” says Sofia Larsen, Membership Manager at the Swedish Chamber of Commerce for the United Kingdom. The response rate was 18% of the membership base, representing around 50% small companies, 20% medium companies and 30% large companies, which in turn roughly corresponds to the company size representation of our whole membership base. “The survey provides us with valuable information that we can use to develop the membership offering even further,” says Sofia. “This is a great opportunity for all Members to make their voices heard. For example, based on some of the feedback, we have already increased the focus on matchmaking and introductions through our revamped business services offering. To get your continuous feedback on the value of the membership, we will repeat this survey annually. The next survey will be conducted this autumn.”
Camilla Carlbom Flinn, Chairman at Carlbom Shipping Ltd.
The Humber Chapter of the SCC is located in Immingham and opened in the 1990s. The Chapter is one of four alongside the Midlands, Northeastern and Northern Chapters. Camilla Carlbom Flinn, Chairwoman at Carlbom Shipping Ltd, was appointed the Chapter’s Chairwoman in 2008.
FIND THE MEMBERSHIP VALUABLE, VERY, OR EXTREMELY VALUABLE
FIND THE EVENTS OFFERING VERY OR EXTREMELY VALUABLE
FIND THE SCC COMMUNICATION GOOD OR VERY GOOD
The LINK NEW MEMBERS AND PATRONS
NEW MEMBERS AND PATRONS The Swedish Chamber of Commerce is the ultimate business platform for Swedish and UK businesses, representing 400 companies from across all sectors and industries, and from start-ups, SMEs, unicorns to large corporations. Membership comes with a suite of benefits for you, your colleagues and your business. If you would like to find out how you can maximise your membership, or to enquire about joining, please do get in touch at email@example.com. But first, a warm welcome to our newest Members.
New Patron Haypp We offer the world’s largest All White selection online. We make sure the product is fresh. We make sure the shipping is fast. We make sure the price is competitive. We make sure to sell and brand our All White, the new kind of stimulation, in the most responsible way. We are Haypp! Our mission is to market the new generation of nicotine products that offer a healthier and more satisfying alternative than cigarettes – The All White. It is a nicotine pouch for a convenient and recreational use anytime and anywhere, with zero tobacco.
New Members Barreca Tibblin Emilie Barreca and Maria Tibblin formed Barreca Tibblin Ltd in 2018 following over 20 years combined experience in the industry working for Candy & Candy and Ralph Lauren amongst others. Barreca Tibblin is a luxury interior design company, working with private clients mainly in Europe on high-end residential and hospitality projects, as well as yachts and jets.
BYREDO BYREDO is a modern European luxury house founded in 2006 by Ben Gorham. In contrast to Scandinavian aesthetics, BYREDO carries clear ethnic influences from Ben’s Indian background with strong ties to creativity, art and lifestyle and has established a unique position in the market. The BYREDO catalogue consists of home candles, fragrances and a collection of handbags and small leather goods.
FIKA Communications We help companies drive customer loyalty and new business through measurable strategies and implementation of brilliant story telling in the digital and social channels. Have a fika with us and find out more by visiting our web page: fikacommunications.com
H&H Group H&H Group is a long-term owner of successful communications companies safeguarding the entrepreneurial spirit and giving every agency freedom to become even more successful. Agency revenue amounts to SEK 550 million with more than 450 employees in Stockholm, Malmö, Linköping, London and Shanghai. Agencies: Hallvarsson & Halvarsson, Comprend, Springtime-Intellecta, Identx, Jung Relations, Creo, Tomorrow, Involve, Consilio, Bysted, Savvy, BerntzonBylund, Mindmakers, Socialminds and Wonderland.
The LINK NEW MEMBERS AND PATRONS
Hypergene Hypergene is a tech company in the Business Intelligence and Performance Management market - with a cloud-based product for planning, reporting and analysis. With Hypergene you can streamline your budget and forecasting processes, follow up on operations using advanced analysis and reporting functionality, and work with strategic management. We are a fast-growing company with 170 employees.
Invest in Skåne Invest in Skåne is the official business promotion agency for Sweden’s southernmost region Skåne. We provide professional advice and services to international companies considering Skåne for future investment or establishment and assist local companies with trade and export. Our regional strongholds include Design, Digital Games, Food and Packaging, Life Sciences and Materials Science.
LOGOS LOGOS’ highly-committed transactional and advisory team (many of whom are dual-qualified) in London offers dedicated legal services for their Nordic clients and has a strong track record from most of the Nordic markets. Clients report that LOGOS’ lawyers are pragmatic, commercially astute and adept at bridging any cultural gaps between the different legal systems.
LondonSwedes LondonSwedes is the biggest community of Swedes in the UK with over 50,000 members. The website and social media channels have become the go-to-place for Swedes living in or relocating to the UK when in need of information and Swedish events. They can help you organise your Swedish themed company events or help you reach out with your products and services to the Swedish community. They also recently launched a job platform and a small co-working space called The Moose Loft.
Rawlinson & Hunter Rawlinson & Hunter is an international grouping of professional firms that provides advice to high net worth individuals and families with planning tailored to each client’s needs and objectives, backed up by first rate trust, tax and accounting services. Their offices stretch from London to New Zealand to Switzerland, Bermuda, the Cayman Islands, the British Virgin Islands, Singapore and Australia.
Stora Enso Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow.
Swedish Private Equity & Venture Capital Association SVCA is the industry association for the private equity industry in Sweden. Among other things, they act as the advocate for the industry in the media as well as with politicians and decisionmakers. They also monitor changes in regulations and tax legislation as well as promoting a favourable environment for the industry.
Zound Industries Zound Industries design, develop, manufacture and market headphones and speakers. Their mission is to create unique experiences in the intersection between lifestyle and tech that enrich people’s lives. With a genuine passion for new technologies and user centric innovation they aim to create products that define our time. Zound Industries has a portfolio of distinctive brands; Urbanears, Marshall and Adidas.
The LINK MEET
Tracey Davidson CEO AT HANDELSBANKEN WEALTH MANAGEMENT BY: LINNÉA LINDGREN
Handelsbanken began its UK banking operations in the early 1980s and today has over 200 branches across the country, stretching from Inverness to Truro, Colwyn Bay to Canterbury. After a number of successful decades in the UK, the Bank marked an important milestone when it acquired wealth management firm Heartwood, now known as Handelsbanken Wealth Management and Heartwood Investment Management. The LINK met with CEO Tracey Davidson, who has been with Handelsbanken since 2003 and at the helm of the wealth management and investment business since 2014. From the dream of becoming a music teacher…. Tracey Davidson, originally from Liverpool, grew up wanting to be a music teacher. By the end of her high school education however, Tracey realised that she had changed her mind, deferred her university place and took a year off to determine what she wanted to do before going to university. “I think it was my mother who encouraged me to get a job whilst I sorted my ideas out. I successfully landed a job with Barclays International in Liverpool. I loved it from day one and I actually ended up not going to university at all. Instead, I followed an accelerated managers programme, sat my banking exams and then my investment and financial advice exams and I’ve never looked back.” During her time at Barclays, Tracey also worked in Jersey, in the Channel Islands, and on the south coast of England, in a variety of roles within business and wealth management. Back in 2002, she was approached by a headhunter who introduced her to Handelsbanken’s area manager. He told her all about this exceptional company that worked with a unique organisational structure using a flat, empowered business model. “I was intrigued and enticed, so, in 2003, I decided to move to Handelsbanken. Right from the start I got to see the model in action and I was part
of the team that established the Bank’s 10th UK branch in Southampton,” says Tracey. …to a successful banker and business woman Tracey went on to work in a number of management positions within Handelsbanken, and, in 2010, she was appointed Senior Vice President and Head of Handelsbanken’s Regional Bank North, succeeding Anders Bouvin, and becoming a part of Handelsbanken Group Management. It was in this role that Tracey worked on the search for a wealth management company to acquire for the Bank, in order to meet growing customer demand for wealth management and investment services. Tracey says: “We brought the wealth management aspect to our business having been told by our customers that they wanted it. I started with the bank in 2003, and already back then customers asked if they could invest with us but at the time we didn’t have any suitable products locally.” Having been successful in the acquisition, Handelsbanken asked Tracey to help integrate the wealth management business with the Bank. “Today, Handelsbanken Wealth Management and Handelsbanken branches are perfectly intertwined. Together we serve our customers and meet their needs, providing long-term, holistic financial planning. And since the acquisition, we’ve grown very strongly which has proved that we were right to listen to our customers.” Working for a Swedish business in the UK Handelsbanken has for a long time been one of the most famous banks and brands in Sweden. Yet, in the UK, the brand hasn’t always been as well-known as it is today. “In 2003, when I joined Handelsbanken, I spent much of my time explaining to people who Handelsbanken was and what we did. Now I go to meetings and customers tell me who we are, what we do and how great they
think we are. I just love that, and it makes me very proud,” says Tracey. When speaking about Handelsbanken’s Swedish roots, Tracey says that she’s been at Handelsbanken for so long that she doesn’t think of the Bank as particularly Swedish. Nonetheless, she says that when people realise that Handelsbanken has a Swedish heritage the connotations that she encounters are solely positive. “In the UK the Swedish connections are viewed very positively and with it comes a credibility that is almost unspoken. There’s always some fun comments about ABBA.” She also says that the concept of fika goes down extremely well at Handelsbanken in the UK. “I regularly have fikas here at work with a mixed group of colleagues from different departments where we talk about anything and everything over a cup of coffee.” Local decision-making and long-term relationships As a bank, Handelsbanken is known for having a markedly different culture from that of its competitors. For Tracey it is clear that it is the organisational design that allows Handelsbanken to work as well as it does. “If you start with the branches, we believe that the best decisions are made close to our customers. Employees in branches are empowered to make decisions locally, whilst working towards the Bank’s overall corporate goal, at the centre of which is to deliver the highest possible levels of customer satisfaction. Within this framework we trust our employees to do the right thing, without telling them what products to sell or how to sell them, or worse, how many to sell. This enables us to operate an ethical business, where we focus on doing what is in the customer’s best interest. If that means telling a customer that they shouldn’t invest, then that is what we will do – and we would consider that a job well done, even though it hasn’t made us money that day. Doing the right thing for our customers, whatever that may be, hopefully means we will end up building a long-term relationship with them, which is the best thing for the bank and its profitability in the long-term.”
The LINK MEET
Financial planning - not one size fits all In addition to the organisational design, the wellbeing of Handelsbanken’s customers is at the very heart of Handelsbanken’s business. Tracey says that for Handelsbanken it’s all about building a long-term relationship via whatever medium best suits the customer. “15 years ago, the only way that clients would have received wealth management services would have been face to face. Today there are more options available. Financial planning is not ‘one size fits all’. Sometimes you need to sit down and talk to a human being but sometimes you’re happy reviewing your financial planning on your phone at night, home in your pyjamas with a warm cocoa,” says Tracey. In order to meet this evolution, Handelsbanken last year launched a new industry-leading digital investment reporting tool which gives clients an up-to-date view on what is happening with their investment portfolio, what changes have been made, up-to-date commentary from the investment team and an ability to analyse the portfolio performance; a really dynamic experience.
With that being said, people are different, times of your life are different, and sometimes it depends on the magnitude of what you are looking to do that will determine whether you want a face to face interaction or whether you are happy using digital tools.” The love for business Tracey has a strong passion for the industry of banking, finance and investment which is why she takes every opportunity she gets to promote it as a great place for careers. “I think that if I went into any high school today, not many students would put their hands up and say that they wanted to be a banker in the future, which is a tragedy because it is an excellent industry for people to work in and I’d like to help make that change.” When it comes to Tracey’s personal success it is clear that her energetic personality, her love of business and her passion for interacting
with people have played a big role. “Interacting with people and seeing them succeed as well as a love for the mechanics of business are two of the best things about my job”. Tracey explains that the pace and responsibility that come with her role give her both adrenaline and positivity. She believes that some people would call this stress, but she likes to look at it as a “healthy, good kind of stress”. She says: “I thrive on it, I enjoy all of it and I love seeing things work.” Tracey is constantly looking for the next thing, for new ways to improve and thinks that sometimes the greatest challenge can be to leave things alone. “For me sometimes the hardest thing is to sit on my hands; I have to let people do their job. I have some superb, talented colleagues at Handelsbanken and I am very proud of what we achieve together; I can’t wait to see what we can achieve in the future”.
When it comes to the development of technologies such as AI, Tracey’s view is that there is still a human element required when it comes to wealth management services and she is not yet clear on her opinion on AI in terms of delivering financial advice. “I think that whilst there are always people who will embrace new technological developments and who might be willing to take advice from or implement advice given by AI, it’s not something that we see a demand for amongst our customer-base today. Our customers tell us that the human interaction and the relationship element that they get with Handelsbanken is important, but they also like to have the digital tools to support it. We don’t think it’s one or the other, we think it’s a combination of both. We think this dual approach we offer is a USP.
Doing the right thing for our customers, whatever that may be, hopefully means we will end up building a long-term relationship with them