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Baltika losses ascribed to slowdown in growth

15 May '08
3 min read

More than a half of the retail sales of the Baltika Group during the first quarter was contributed by the fast fashion brand Monton with 125 million EEK, the annual growth being 6%. The most rapid sales growth in the company's brand portfolio was posted by the Ivo Nikkolo brand, which experienced 53% sales growth and a sales turnover of 6.5 million EEK.

Baltika opened three new stores during the 1st quarter of this year; two in Ukraine and one in the Czech Republic. The company plans to open, in total, five new stores during the first half of the year; 14-18 new stores will be opened during the 2nd half of the year.

At the end of March 2008, Baltika employed 1,951 people, with 781 of those being outside Estonia.

The Baltika Group is a rapidly growing fashion retailer in the Baltic States, Central and Eastern Europe. The Group operates four retail concepts: Monton, Mosaic, Baltman and Ivo Nikkolo in seven countries – Estonia, Latvia, Lithuania, Poland, the Czech Republic, Ukraine and Russia.Baltika employs a vertically integrated business model which means that the Group controls all stages of the fashion process:design, manufacturing, supply chain management, distribution/logistics and retail sales. Such a model enables Baltika to offer new fashion goods every week.

Baltika AS

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