Previous Events.....................................................
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News from the Director..........................................
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Upgrades to Patrons..............................................
Group 4 Securicor plc
Novo Nordisk |
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New Members........................................................
Luckner's
If P & C Insurance Ltd. |
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New Appointment..................................................
Tom Schrøder joins Grundberg Mocatta Rakison |
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Focus.....................................................................
Federation of Danish Textile & Clothing |
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News Column from Danske Bank...........................
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Member of the Danish Press in London.................
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Dates for your Diary...............................................
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Membership Offers.................................................
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The 22nd of February was the evening where the monthly Nordic Drinks took place at Radisson SAS Portman Hotel  
The concept of these events, meeting the last Thursday of every month for drinks after work is very popular and this time 20 of the DUCC members, and more than 80 people in total attended.  They took the event as an opportunity to meet the Norwegian and Finnish Chambers as well as the DUCC members in an informal environment. The members who had signed up before hand were offered a free drink and delicious canapés sponsored by the Radisson SAS Portman.
The next Nordic Thursday Drinks will be on the 29th of Marts. We look forward to seeing you all there.
Joint Nordic Junior Seminar on Entrepreneurship 
Thursday 8 March 2007 Torsten Jansson, the founder, owner and CEO of the listed New Wave Group AB, was the exciting speaker at Joint Nordic Junior Event at The Embassy of Sweden Reception Suite. The guest speaker was introduced by Director Christina Liljeström, Swedish Chamber of Commerce.
Mr Jansson is a true entrepreneur who started his business in the basement, printing T-shirts. 1997 the New Wave Group made an IPO having an annual turnover of approx. €30m. Now, 10 years later, NWG’s turnover is over €350m.
 New Wave is a growth company which creates, acquires and develops branded merchandise for the corporate profiling and consumer markets, mainly within clothing, accessory and present sectors. In fact, Jansson m anages 75 brands today, distributed through both profiling and retailing markets across Europe, American and Asia.
Jansson stressed the importance of having a business model that can make your business different from what other people are doing. For New Wave Group this means ‘90% hard work and 10% strategy’ and slogans as ‘If you want to be able to work hard – HAVE FUN!’.
The evening was very successful and a lot of people from all the Nordic Chambers showed up.
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Dear Members
March is the month of our Fashion Seminar and Reception, which will take place at the Royal Danish Embassy on the 22nd. We have invited Mr Nicolaj Dupont-Mersing, Chief Economist of the Federation of Danish Textile & Clothing and Danish International Designer Mr Jens Laugesen. These Captains of Industry will share with us their views on Danish Fashion and on the challenges faced abroad by companies within this industry. This event has turned out to be extremely popular so if you have not already booked and wish to attend please contact us as soon as possible. This is not the only event in March as we have also planned our first-ever Easter Dinner at the Danish Church on the 29th and our guests can look forward to a menu which will consist of the same delicious selection of dishes that are always popular at our Annual Christmas Lunch.
On the 26th of April we have invited a panel of head-hunters, including Kai Hammerich, Partner at Russell Reynolds, to present and take questions on how to promote yourself and your CV in order to stand out the best in this increasingly important industry.
At our Annual Dinner at the Drapers’ Hall on the 20th of April 2007, we will welcome the launch of our Annual Trade Directory, featuring all members of the Chamber who have renewed their membership for 2007. Please take the trouble to confirm your exact details as soon as possible in order to ensure that you receive ultimate exposure from this publication. For of those of you who have, this should have ensured that you received the first issue of Nyt fra Danmark which kindly offered a page at the Chamber’s disposal. Please do contact us should this not be the case and we will forward you a copy. Please welcome to the Chamber this month our newest members: Luckner’s and If P&C Insurance. Also I would like to express, on behalf of everyone at the organisation, our appreciation to Group 4 Securicor and Novo Nordisk for upgrading their corporate membership to that of Patrons’. The support we receive from our Patrons is invaluable. Best regards,
Martin Mortensen Executive Director
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Becoming a Patron of the DUCC will give your company the strongest voice in the Anglo Danish Business community and the opportunity to influence the public debate between companies and institutions in the UK.
Patrons are...
... featured on the front page of the official DUCC website and each Patron has the opportunity to have a
description of their company
... featured on patrons section of the DUCC website
... featured on all emails going out from the DUCC
... invited to an Annual Patrons Dinner at The Royal Danish Embassy hosted by His Excellency The Danish
Ambassador
... mentioned on invites and/or programmes sent out by the Chamber
... featured in every issue of the monthly DUCC newsletter, the Red Letter
This month another two companies have upgraded their corporate membership to that of Patrons and will accordingly receive the Patron benefits and privileges.
About Novo Nordisk
Novo Nordisk is a healthcare company and a world leader in diabetes care. The company has the broadest diabetes product portfolio in the industry, including the most advanced products within the area of insulin delivery systems. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 22,000 full-time employees in 79 countries, and markets its products in 179 countries. Novo Nordisk’s B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol ‘NVO’.
Contact person: Mr. Viggo Birch (MD), Phone: +44 (0)1293 762186
For more information, visit www.novonordisk.com.
About Group 4 Securicor
Group 4 Securicor plc (G4S) is one of the world’s leading security companies and the largest employer listed on the London Stock Exchange with 470,000 employees operating in over 100 countries. The company operates in three key sectors: Security Services (including Manned Security and Justice Services), Security Systems and Cash Services. We provide public policy-related security services ranging from electronic monitoring of offenders in the community, to managing cash for many of the world’s largest financial institutions, to providing security at ports, airports, sporting events and other venues across the globe. 
G4S was formed from the merger between Securicor plc and Group 4 Falck A/S’s security business, which completed in July 2004. G4S is listed on the London Stock Exchange with a secondary listing in Copenhagen.
Contact person: Daniel Evans, Head of Public Affairs
Email: daniel.evans@g4s.com.
Visit Group 4 Securicor at www.g4s.com
About Luckner's
Based in the heart of London’s famous Bermondsey antiques market, Luckner’s is the firs t Internet auction house in the United Kingdom and was founded by Simon Neubert-Luckner and his wife Gaby. The concept is based on the Danish Internet auction house model but has been modified to meet the demands of the English market.
Luckner’s combines the excellent service and expertise of a traditional auction house with the accessibility of the internet to adapt to a new auction audience. We auction affordable and unique objects to both traditional auction goers and to young collectors. Luckner’s has standardized and simplified the traditional auction procedure. We are committed to processing items in 5 steps within 24 hours: • valuation • consignment • cataloguin • photographing • online
 On average, the auction ends two weeks later with the sale of the item. This process, coupled with the physical fluid movement of the object through the auction showroom, provides an ef ficient and cost effective approach to the auction process. We are committed to providing a high level of customer service and expertise. By being an online auctioneer, we are able to reach a larger and more diverse audience. There are continuous auctions so buyers can place bids 24hours a day. Seller’s, who bring their items to our showroom, can easily and immediately put any item up for auction, regardless of the category. By eliminating the high-street showroom and glossy catalogue we have: lower operational costs which translate to lower commission rates.
Visit Luckner's at 128 Druid Street, London SE1 2HH or online at
www.luckners.com. Tel. +44 (0)20 7252 3507.
Contact person: Simon Neubert-Luckner. Email: simonluckner@luckners.com
About If P&C Insurance
If P&C Insurance is the leading property and casualty insurance company in the Nordic region and offers insurance solutions to clients in Sweden, Norway, Finland, Denmark and the Baltic countries, as well as to Nordic clients with international operations. Business area Industrial is a market leader in industrial insurance in the Nordic region and insures industrial groups headquartered in the Nordic region. The business area has more than 1,200 clients. Sales, client service and claims handling activities are mainly organized on a local basis in each market. Outside the Nordic region, If provides services via its own branches and international business partners. In the Branch office in London we issue local policies and handle local claims on behalf of our Nordic Clients who have subsidiary companies domiciled within the UK. Our secondary role involves underwriting, claims, and technical staff, all with London Marketexperience. They assist our Nordic colleagues in providing professional services to our clients.
Visit If P & C Insurance Ltd (publ) at www.if.se. Tel: +44 (0) 20 7984 7619. Adress: 40 Lime Street, London EC3M 7AW. Contact person Phil Salt, Senior Underwriter. Email: phil.salt@if.se
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Danish and English lawyer, Tom Schrøder, joins Grundberg Mocatta Rakison LLP to add Danish strength to the firm’s cross-border expertise.
Tom Schrøder has joined the cross-border firm of Solicitors and International Lawyers Grundberg Mocatta Rakison LLP (GMR) as a partner in their Corporate Department. Tom is believed to have been the first Danish lawyer to qualify as an English solicitor and to then enter local private practice. Red Letter met Tom Schrøder for a talk about his new job.
 What is your professional background and area of expertise?
“I have practised in London as a dual-qualified Danish advokat and English solicitor since 1996”, says Tom Schrøder. “Given my background, I act as a facilitator in relation to legal and cultural differences between England and Denmark.”
Why did you choose GMR?
According to Tom, GMR has long been at the forefront of the legal market when it comes to advising Scandinavian clients and has grown rapidly over the last decade in particular to become a full-service, international law firm with strong Nordic expertise.
“I find the firm's current size and composition ideal”, explains Tom, by which he means “neither too small nor too large and with the right mix of specialist lawyers” in terms of the work that he does for his clients.
GMR currently employs 55 people, including 35 lawyers and other fee earners qualified in over 10 jurisdictions and with some 25 languages spoken.
What does it mean for the Nordic profile of GMR that you have entered the partnership?
"My background fits perfectly into the existing GMR Nordic offering; they already have Swedish, Finnish and Norwegian lawyers onboard, and I now complete the jigsaw in the region”, says Tom.
What will be yours and GMR’s distinct competitive advantage and what can you offer members of the DUCC?
GMR today consists of lawyers and tax advisors all of whom specialise primarily in cross-border legal work within the firm’s corporate & commercial, employment, litigation, private client, property and tax departments, many of whom have strong connections in the Nordic region through legal qualification, language and/or family.
“We offer a very broad spectrum of English and international legal advice, in an English context, with a strong understanding of the Nordic region. Also, being able to communicate with our clients, Nordic or otherwise, in their native tongue in the process of giving legal advice is an advantage always greatly appreciated by clients”, explains Tom Schrøder.
What do you expect from your future increased involvement in the DUCC?
“Good question – and hardly leading at all!” grins Tom. “No, seriously”, he continues, “both my new firm and I recognise the DUCC as a superb Anglo-Danish networking platform with a pivotal role in the marketing of Denmark and England. The forum you provide makes it a lot easier for all members to try and do their jobs well, and GMR will definitely aim to be as visible and accessible as possible out there ‘on the floor’,” he finishes.
Visit Grundberg Mocatta Rakison LLP (GMR) online at www.gmrlaw.com |
In the wake of Copenhagen and London Fashion week Danish fashion is all the rage and the view on the Danish Fashion industry is optimistic among the industry's market watchers. Red Letter interviewed Nicolaj Dupont-Mersing, Deputy Managing Director, Federation of Danish Textile & Clothing about the success of the industry.
Short about Federation of Danish Textile & Clothing (DTB)
DTB is the national federation for the Danish textile and clothing industry. The federation has existed in more than 110 years. The industry has changed over time but the role of the federation has always been to represent the interests and work hard for improving the competitiveness of the industry. The main activity of the federation today is to advice its members and thereby adding value to their business. What is Denmark’s role at the international fashion scene?
The role of Denmark at the international fashion scene is becoming more and more significant. More designers open the most famous fashion weeks like London with Noir and more designers find work among the best haut couture houses in the world. In addition the Danish fashion industry has for several years have two digit increases in export. The export reached £1.9 billion in 2006. Furthermore, Copenhagen International Fashion Fair (CIFF) is now Europe’s biggest fashion fair.
What are the reasons for Danish textile and clothing companies’ success?
The outsourcing of the fashion industry during the late 80’ies and 90’ies have resulted in the present competitiveness. The outcome of the outsourcing is that the companies are able to produce quality products with fabrics full of finesse with a design competitive on the international scene at a favourable price. Here both the fashion company and the boutique earn money and the customer pays a reasonable price.
What is important to be successful in the international fashion environment?
To be successful in the international environment demands hard work and a good strategy. To come from Denmark can in some places have a positive effect but in most places you are evaluated on the product quality and design. To be successful it is important to have an international designed product. The company must define which segment they would like to operate in and thereafter find out how to approach the customer in the particular segment. Without a clear and well elaborated strategy it is difficult for a company to prioritise one market or type of customer from another.
What are the main challenges in the fashion industry?
The main challenges today are the increased number of brands on the international fashion scene. Due to that fact it has become more difficult and expensive for a company to differentiate from another. Innovative solutions or ‘blue ocean’ strategies can be the way ahead.
What are the premises for success in the UK?
Several Danish brands state that the main challenge on the UK market is getting the distribution right. The customers have so much choice so the real challenge is to ensure that they are aware of the quality and design of Danish designers.
What represents ‘Danish’ fashion?
Danish fashion has developed considerably in recent years. Upcoming brands have had success in Paris, Milan, New York and London. The Danish designers have evolved to adjust to contemporary trends. As UK fashion magazine Draper’s wrote about their latest coverage of Copenhagen Fashion Week, Copenhagen’s fairs bridged the offers seen in Paris, Düsseldorf and Pure in London. Retailers looking for commercial, contemporary women’s wear should add Copenhagen to their list.
Visit The Federation of Danish Textile & Clothing at www.textile.dk and meet Nicolaj Dupont-Mersing at the DUCC Fashion Reception on March 22.
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By Arne Lohmann
Senior Analyst
Danske Bank
arne.lohmann@danskebank.dk
Bank of England confirms that one more hike is enough
The last couple of months the UK financial market has been uncertain of how high UK policy rates will go this year. After the surprise hike in January the market speculated that baserate might go as high as 5.75%.
However, The Bank of England's inflation report from February showed that there is "only" a need for 1½ more interest rate hikes to return inflation to the target level of 2.0% in two years. As expected, the bank's inflation path showed that it anticipates a marked decrease in inflation in 2007 due to falling oil prices. This picture was confirmed by a drop in inflation to 2.7% in January from 3.0% in December.
The report came as a blow to those who saw a need for two more rate rises in the UK. The latest data ac-tually suggest that the bank will not be in any particular hurry even to implement the one hike that the infla-tion report did clearly signal. Retail sales in January were surprisingly weak, and our preferred indicator for the UK housing market, the RICS index, has dropped sharply and is now suggesting that the days of 10% price growth seen in the UK housing market in 2006 are eventually coming to an end. It might be a first sign that the UK housing market is cooling down now,
Despite these slightly weaker figures, we expect another interest rate hike in connection with the next in-flation report in May, or alternatively in April. We think that the BoE is in no rush to raise rates again and now wants to wait and see how the incoming data stack up over the next two months.
Lately the GBP has come under strong pressure. However, this has not much to do with the development in the British economy but due to a change in sentiment in global FX markets. During 2006 a lot of inves-tors borrowed cheap in Japanese Yen and placed the funds in high-yield currencies like GBP. Many of these trades were in the beginning of March suddenly reversed as the market started to fear a stronger Japanese Yen. That is the reason why we have seen GBP under pressure at the moment. We still expect a relatively strong GBP going forward and still expect GBPDKK to trade above 11 for the next six months.
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Foto: Jesper Voldgaard / www.voldgaard.dk
Lone Theils, UK Correspondent Berlingske Tidende
I got my final exam from Danmarks Journalisthøjskole in Århus on a Thursday in June 1996 and four days later I arrived in London to work for Berlingske Tidende as a freelance business correspondent. I was 25 years old and still had a lot to learn about anything from stocks to who this Tony Blair really was. 11 years later I have been covering some of the most important events of the decade over as a UK Correspondent: The death of princess Diana, Tony Blairs election victory, the war in Iraq, the peace in Northern Ireland, the bombs in Londons Underground to mention a few. I had a stint of 3 years in Denmark, where I mainly covered the war in Kosovo for Berlingske Tidende and also spent some time in the Christiansborg Office. Later on I worked at Ritzaus Bureau and Danmarks Radio´s investigative programme Rapporten, but London was and is my first love and I came back here again in 2002 and hope to remain for a long time still. I am almost getting a feel for the place now that I have turned 36.
Berlingske Tidende, www.berlingske.dk, 9 West Heath Drive, London NW11 7QG. Phone +44 (0) 208 391 4504. |
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