Fashion leaders extend Baltic franchises

  • 2013-07-24
  • From wire report

VILNIUS - The leader in the retail apparel market in Lithuania and the Baltic States Apranga Group and global leading fashion retailer Inditex have agreed to prolong franchise agreements regarding Zara, Bershka, Pull and Bear, Stradivarius and Massimo Dutti brand development in the Baltic States until 2016, the company said in a statement, reports ELTA.
The collaboration between Apranga Group and Inditex started in 2004. The franchise agreements were prolonged in 2008 and 2011. The first Zara chain store in the Baltic States was opened in August 2004; the first Bershka chain store in February 2006; the first Pull and Bear chain store in August 2006; first Stradivarius in April 2008, and the first Massimo Dutti in August 2011.

Currently Apranga Group runs 38 stores of the Inditex chain: 10 Zara, 8 Bershka, 8 Pull and Bear, 6 Stradivarius, and 6 Massimo Dutti. The general floor area of these stores is 28,700 sq. m.
The net sales of Inditex Group were 15.9 billion euros worldwide in 2012, and have increased by 16 percent during the year. There were 6,009 Inditex group stores open in 86 countries as of Jan. 31, 763 of which were operated under franchise agreements. The turnover of franchise stores comprised 15 percent of the total Inditex Group’s turnover.
Shares of Apranga are listed on the Baltic equity list on NASDAQ OMX Vilnius Stock Exchange. Majority shareholder of Apranga Group is the concern MG Baltic.