Apranga plans to double investments in apparel retail
03 Jan '12
2 min read
The leader of retail apparel market in Lithuania and the Baltic States Apranga Group plans to reach LTL 461,8 million (EUR 133,7 million) retail chain turnover (including VAT) in 2012, or by 7.6% more, than in 2011.
Apranga Group plans to double investments into development and renovation of the chain in 2012. The Group will open 9-11 new stores during 2012, and 8 stores will be totally reconstructed.
The retail turnover (including VAT) of Apranga Group has made LTL 429.2 million (EUR 124.3 million) in 2011, and has increased by 13.1% comparing to 2010. The Group has exceeded the planned year 2011 turnover (LTL 420.0 million or EUR 121.6 million) by 2.2%.
During the year 2011 Apranga Group opened 9 and totally reconstructed 5 stores. Total investments into development of the chain exceeded LTL 6.5 million (EUR 1.9 million) in 2011.
Currently Apranga Group operates the chain of 121 stores.
Shares of Apranga are listed on Baltic equity list on NASDAQ OMX Vilnius Stock Exchange. Majority shareholder of Apranga Group is concern MG Baltic.
Apranga Group is a distinct leader of clothing retail in the Baltic States. At the beginning of 2003, the company started its activity in Latvia. In 2004 company expanded to Estonia. Currently, the Group operates a chain of 116 stores in the Baltic States: 75 – in Lithuania, 31 – in Latvia, and 10 – in Estonia.