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Fashion retailer Baltika's retail sales grow by 10%
03 Oct '08
2 min read
Baltika's consolidated sales revenue amounted to 336 million kroons in the third quarter, having grown by 9 per cent in comparison to the previous year. Retail sales grew by 10 per cent and wholesale volumes grew by 19 per cent in the third quarter. Growth in sales in comparable stores reached 7 per cent. The strongest month in terms of sales was August when total sales grew by 23 per cent.
According to CEO of Baltika Meelis Milder, the sales in the third quarter indicate that the turn in the enterprise's economic cycle that took place in summer will continue.
“Focussing on enhancing efficiency on big markets has yielded the desired result – at the moment Baltika is rather moving in the opposite direction from the developments in the Estonian economy“, estimated Milder.
Milder sees that the successful third quarter was the result of stable and solid sales on the Central and Eastern European markets and of solid offers in the beginning of the autumn season. Third-quarter retail sales grew by 82 per cent in Central Europe, by 20 per cent in Eastern Europe and by 1 per cent in the Baltic States.
In September, the last month of the quarter, the growth in retail sales was slower, having increased by 3 per cent, the growth in sales in comparable stores was 1 per cent.
By the end of September, Baltika Group had 125 stores with a total sales area of 24,770 square metres. This year Baltika is planning to open 9-11 new stores.
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.
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 and assures high availability of basics.
According to CEO of Baltika Meelis Milder, the sales in the third quarter indicate that the turn in the enterprise's economic cycle that took place in summer will continue.
“Focussing on enhancing efficiency on big markets has yielded the desired result – at the moment Baltika is rather moving in the opposite direction from the developments in the Estonian economy“, estimated Milder.
Milder sees that the successful third quarter was the result of stable and solid sales on the Central and Eastern European markets and of solid offers in the beginning of the autumn season. Third-quarter retail sales grew by 82 per cent in Central Europe, by 20 per cent in Eastern Europe and by 1 per cent in the Baltic States.
In September, the last month of the quarter, the growth in retail sales was slower, having increased by 3 per cent, the growth in sales in comparable stores was 1 per cent.
By the end of September, Baltika Group had 125 stores with a total sales area of 24,770 square metres. This year Baltika is planning to open 9-11 new stores.
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.
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 and assures high availability of basics.
Baltika AS
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