The course of Apranga group expansion leads to Estonia
On October 20th, Apranga Group, the leader of the clothing business
in Lithuania and the Baltic States, at the same time is opening two
luxury stores in the centre of Tallinn, Rävala pst. 4. They are
Emporio Armani boutique with the area of 590 sq. m. opened under the
franchise agreement with Giorgio Armani S.p.A. Also mulibrand store
covering 320 sq. m. and representing the worldwide known brands like
D&G, GF Ferre, La Perla, Just Cavalli, Versace Jeans Couture, True
Religion, Rock&Republic. The investments to the projects in total
seek LTL 5.2 million.
According to Mr. Rimantas Perveneckas, General Director of the
Apranga Group, “the level of luxury stores, available product range
and competition in Tallinn is noticeably lower than in Vilnius and
Riga. Having implemented the two impressive projects in the centre
of Tallinn, Apranga Group expects successful performance thereof and
plans to become the market leader in the luxury segment in the
nearest future. Emporio Armani in Tallinn is the most fascinating,
luxurious and modern store operated by the Apranga Group in the
Baltic States.
Giorgio Armani, together with a team of in-house architects, designed
the new store following the image of the recently opened Emporio
Armani stores in London, Hong Kong, Tokyo. The Armani group is one of
the leading fashion and luxury goods group in the world today with
4900 direct employees and 13 factories. The Armani group turnover in
2005 reached EUR 1428 million. The gourp‘s exclusive retail network
currently comes to 349 shops in 40 countries, 124 of them are Emporio
Armani stores.
For the last 3 years, Apranga Group is the most rapidly growing retail
chain in the Baltic States. In 2004 the turnover of Apranga Group was
increased by 44%, 2005 m. – 47%. Retail turnover of Apranga Group
through the first three quarters of 2006 amounted to LTL 203.1 million
(EUR 58.8 million), and increased by 47,4 % as compared to same period
of year 2005. At the moment Apranga Group operates the chain of 64
stores, including 46 in Lithuania, 15 – in Latvia, and 3 – in Estonia.
In 2006, Apranga Group has already opened 17 stores, including 5 in
foreign markets. Within the next 2 years, Apranga Group expects to
expand even more aggressive in Latvia and Estonia by opening 20 new
stores, i.e. as much as the Company has already opened within 4 years
of its presence in the foreign markets.
Mr. Rimantas Perveneckas, General Director of the Apranga Group,
says: “we are satisfied by one and only position in the market we
operate - the position of the market leader. We have become the one
within 3.5 year presence in the Latvian market. Within the next 2-3
years, Apranga Group will endeavour to become the leader of the
Estonian market”.
Apranga shares are listed at the Vilnius Stock Exchange. Company
belongs to one of the largest concerns in Lithuania, MG Baltic.
Rimantas Perveneckas
Apranga Group General Director
+370 5 2390 801
