Leading apparel company expands retail network in Estonia
29 Aug '08
2 min read
On August 28, the Apranga Group, leader of retail clothing market in Lithuania and the Baltic States, opens two stores in Tartu, Estonia, concurrently – the first Mango store with an area of 300 square metres and the first Mexx store with an area of 300 square metres.
The stores will open in the new shopping centre Tasku and will be the first stores of the Apranga Group outside the Estonian capital Tallinn.
In the next years, the Apranga Group plans to focus more on the development in the Estonian market, consolidate its positions in all segments and increase its market share.
The development has been planned not only in the Estonian capital Tallinn, but also in Tartu, Pärnu and Narva.
The Apranga Group has been developing the franchise Mango store chain in Lithuania since 2000, the Mexx store chain in Lithuania since 2004, and in Latvia - since 2006.
Currently, the Apranga Group operates a chain of 91 stores in the Baltic States: 60 in Lithuania, 24 in Latvia, and 7 in Estonia.
Over seven months this year, the turnover of the Apranga Group (VAT included) accounted for LTL 273.5 million (EUR 79.2 million), which is 24.8% more as compared to the same period last year.
During the 7 months of 2008, the turnover of retail chain of the Group in Latvia and Estonia amounted to LTL 91.5 million (EUR 26.5 million), which is 24.8% more as compared to the same period in 2007. The share of turnover in foreign markets constitutes 33.5% of the overall turnover of the Group.
This year, the Apranga Group opened 8 new stores and plans to open 13 new stores more and close 4 stores by the end of the year.