Apranga's sales robust, expansion proceeds rapidly

  • 2007-02-07
  • By TBT staff
VILNIUS - The good times continue to smile upon Apranga, one of the Baltics states' leading apparel retailers, as monthly revenues continue to break records and surpass even the most optimistic expectations.

Apranga, which is owned by the multi-business conglomerate MG Baltic, announced last week that January 2007 sales were up 55 percent year-on-year, amounting to 33.6 million litas (9.7 million euros).
This comes after an impressive December, when sales reached 32 million euros, up nearly 54 percent compared with December 2005.

The company has already announced that, according to preliminary results, 2006 turnover amounted to approximately 300 million litas (86.7 million euros), a 49 percent improvement over 2005 sales.
Rimantas Perveneckas, general manager of the Apranga group, described 2006 as "fantastic" given that the market leader was able to boost sales by 50 percent. The results, he said, confirmed that the company's strategy 's to focus on those brands growing worldwide 's was the right one.

The Apranga group is comprised of five broad retail chains, including Apranga, Zara, Aprangos Galerija and Moskito and then a line of luxury clothing stores such as Armani and Hugo Boss.
The group currently owns 65 stores in the three Baltic states, including 47 in Lithuania, 15 in Latvia and three in Estonia.
And it is expanding rapidly. According to a December press release, Apranga planned to open 14 new stores in the first two months of 2007, which together will increase the chain's aggregate trade area by 20 percent.

The sales target for 2007 is 415 million litas, or a robust 40 percent increase on 2006's result. 2007, in fact, "will be the year of the fastest expansion in the company's history," the company said in a statement.
MG Baltic, one of Lithuania's largest business conglomerates, consists of three holding companies: MG Baltic Trade, MG Baltic Investment and MG Valda. Consolidated sales in 2005 amounted to 835 million litas (242 million euros).
The conglomerates interests include clothing, alcohol and beverages, real estate and media.