ZARA chooses a Lithuanian partner to enter the Baltic States

Published: 9 June 2004 y., Wednesday
ZARA, the leading world retailer of ready-made clothes, has signed a franchise agreement with the Lithuanian company Apranga for establishing a network of ZARA shops in Vilnius, Ryga and Tallinn, with planned investment of EUR 5 million. In Vilnius ZARA will occupy a three-and-a-half-store building in the central Gediminas avenue and will be the biggest shop in the Baltic States. “With ZARA coming to Lithuania, the competition in the ready-made clothes market will considerably incrase”, said R.Perveneckas, Director General of Apranga. Apranga signed a contract with Inditex, the owner of ZARA company. Beside ZARA, Inditex has eight other retail networks: Kiddy’s Class, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Zara Home with 2000 shops around the world. In 2003, the turnover of Inditex was EUR 4.6 billion and profits – EUR 446 million. Apranga has a network of 33 shops, including five in Latvia. It has franchise agreements with Hugo Boss, Max Mara, Emporio Armani, Mango, Mexx and Betty Barclay. Adding ZARA to its chain of clothes shops, Apranga plans to considerably increase its turnover – by 46% in 2004 and by 38% in 2005.
Šaltinis: lda.lt
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Presentation of the projects

EBRD to finance projects at Lithuanian port more »

U.K. Won't Hold Euro Referendum Until 2005, 2006

The U.K. government probably won't hold a referendum on joining the single European currency until after the next general election in 2005 or 2006 more »

BP to resume exploration of disputed Caspian oil fields

The BP representative in Azerbaijan and president of the Azerbaijan International Operating Company, David Woodward, told journalists that in the near future they would resume work at the Araz, Alov and Sarq deposits. more »

Substantial support

WORLD BANK APPROVES $100 MILLION FOR UKRAINE more »

A new Latvian-Estonian convention

A new Latvian-Estonian convention on preventing double taxation and tax evasion as regards income tax has been drafted. more »

Russia Cuts Oil Exports as Economic Growth Halts

World Oil prices surged on Wednesday following the Russian government’s decision to cut exports by 150,000 barrel per day. more »

Crackdown on festive fake goods

Shoppers are urged to report the illegal traders more »

Russians, Kazakhs recoil to OPEC

Oil prices on the world’s leading futures markets took a fresh dive over the weekend after it appeared that Russia’s commitment to production restraint was only up by 20,000 barrels a day from an earlier 30,000. more »

The decision

Gaz de France Will Participate in the Privatisation Tender of Lithuanian Gas more »

Euro cash launch raises forgery fears

On 1 January 2002 the euro banknotes and coins will be put into circulation in Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. more »