IC Group is exposed to a number of risks that are inherent to the apparel and fashion industry. Management considers efficient risk management as an integrated part of all Group activities, and works continuously to minimize the individual uncertainties. As a Group, we create value by being able to manage and reduce risks in our core activities.
Our processes have been set up in such a way that by utilizing our experience and skills developed over time, we effectively control risk. Management regularly assesses any changes in the Group’s risk situation and determines whether the measurements made are adequate and relevant.
Five main categories of risk
We have divided the Group’s risks into five main categories in which we place our primary focus. The risk factors and uncertainties currently considered by Management to be the most significant and the coverage of these risks are set out below.
Where it is considered optimal, we establish insurance coverage to hedge against inherent risk. Each year, the Board of Directors reviews the Group’s insurance to ensure coverage is adequate.
- External Risk
- Macroeconomic trends
- Political risk
- Strategic Risk
- Fashion and collection-related risk
- Brand value risk
- Financial Risk
- Operational Risk
- Sale and distribution
- Organizational Risk
For more information about risk management in IC Group see our latest Annual Report