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Latvian corsetry maker acquires Estonian Linette
01 May '13
1 min read
New Rosme, one of the leading companies in corsetry production in the Baltic market, has bought lingerie manufacturer Linette, which owns a chain of eight stores in Estonia.
Post-acquisition, New Rosme expects its annual sales to jump by 25.4 percent, Baltic Course reported quoting New Rosme chairman Edgars Stelmahers.
By acquiring Linette, New Rosme will be able to increase its sales and become the leading lingerie producer in the Baltic region, said Stelmahers.
He added that despite resource consolidation measures, the functions of New Rosme and Linette would be kept separate and most employees would continue working as usual.
Established in 1952 in Latvian capital of Riga, New Rosme currently exports 95 percent of its production, which includes corsetry, lingerie and swimwear.
Linette was founded in 1940 and the company ships its products to Russia, Latvia, France, the UK, the US and Scandinavian countries.
Fibre2fashion News Desk - India
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