Apparel leader Apranga expands with Stradivarius chain
07 Aug '08
2 min read
On 6th of August, the Apranga Group opens the second Stradivarius store in the Baltic States.
The store will be opened in shopping and leisure centre Akropolis located in Kaunas. The first Stradivarius store was opened in Vilnius Akropolis beginning of spring.
Stradivarius - is the fourth concept of the global retail clothing leader Inditex that will be developed by Apranga group in the Baltics under the franchising agreement.
According to the four years development plan of Apranga Group, the Stradivarius chain in the Baltic States will be expanded up to 10 stores.
The first store of Stradivarius was opened in Barcelona, Spain in 1994 and was acquired by the Inditex Group five years later.
406 Stradivarius stores in 25 countries are opened, 77 of them opened in 2007. Net sales of Stradivarius for 2007 reached LTL 1.8 billion (EUR 521 million), 22% higher than in 2006.
Currently Apranga Group operates a chain of 89 stores: 60 in Lithuania, 24 in Latvia, and 5 in Estonia. The retail turnover (including VAT) of Apranga Group has made LTL 273.5 million (EUR 79.2 million) in seven month 2008 and has increased by 24.8% comparing to corresponding period of 2007.
Apranga Group already launched 6 new stores this year. Until the end of the year 15 new openings are expected, 4 stores will be closed.
Company intends to devote more attention to the expansion in Estonian market were chain operates 5 stores for the moment.