Apranga group invests to the luxury segment more than LTL 20 million
Vilnius, Lithuania, 2013-08-16 08:00 CEST --
On August 15, Apranga group, the leading fashion retailer in Lithuania and the Baltic States, opened a multibrand boutique of the first lines in Tallinn. The boutique will present the major luxury brands as Gucci, Dolce & Gabbana, DSquared2 and Ralph Lauren. Investments to the store of 350 sq.m. exceeds LTL 1.7 million (EUR 0.5 million). The project was developed in cooperation with Italian architect Ivana Ivernizzi.
Currently, expansion at luxury segment is one of the strategic business development directions of Apranga Group. There were opened or refurbished 6 stores during the year. Franchising stores of Burberry in Tallinn and Riga, the latest concept of Emporio Armani and Ermenegildo Zegna in Riga, also multibrands Nude in Tallinn and Riga were opened. Total investments of the above mentioned projects amounted to LTL 11 million (EUR 3.2 million).
Apranga Group started the rearrangement of luxury stores at Hall square in Vilnius this week. By the spring of 2014, franchising store of Burberry, the latest concept of Emporio Armani, Ermenegildo Zegna and Hugo Boss, also multibrand Mados Linija will be opened. Investments to above mentioned projects will come to LTL 10 million (EUR 2.9 million).
During 7 month of 2013 the retail turnover (including VAT) of luxury chain amounted to LTL 37.4 million or by 27% more than in 2012. It represents a 12.3% share of total group turnover.
Currently Apranga Group operates a chain of 143 stores: 92 in Lithuania, 38 in Latvia and 13 in Estonia.
Shares of Apranga are listed on the Baltic equity list on the NASDAQ OMX Vilnius Stock Exchange and are a constituent of the OMX Baltic 10 index.
Apranga Group Director General
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