KAUNAS - Lithuanian clothing company Apranga Group opened its second Stradivarius store in the Baltic States on August 6th, located in the Akropolis shopping center in Kaunas. The first Stradivarius store was opened in Vilnius Akropolis earlier this year.
According to the four year development plan adopted by Apranga, the Stradivarius chain in the Baltic States will be expanded up to 10 stores, a company statement said. The first Stradivarius store opened in Barcelona, Spain in 1994 and wasacquired by the Inditex Group five years later. Today 406 Stradivarius storesin 25 countries have been opened.
Currently Apranga Group operates a chain of 89 stores in the Baltic under various brand names: 60 in Lithuania, 24 inLatvia, and 5 in Estonia. Retail turnover (including VAT) of Apranga Groupwas LTL 273.5 million (EUR 79.2 million) in the first seven months of 2008, up 24.8% compared with the corresponding period of 2007.
Apranga Group launched 6 new stores this year and says 15 new shops will open during 2008 - though four stores will also close. The company has also signalled its intent to devote more attention to expansion in the Estonian market.
