Vilnius, Lithuania, 2011-06-08 15:01 CEST (GLOBE NEWSWIRE) -- The leader of retail apparel market in Lithuania and the Baltic States Apranga Group and world’s leading fashion retailer Inditex have agreed to prolong franchise agreements regarding Zara, Bershka, Pull and Bear and Stradivarius brands development in the Baltic States until 2014.
The collaboration between Apranga Group and Inditex has started in 2004. The franchise agreements were prolonged in 2008. First Zara chain store in the Baltic States was opened in August 2007, first Bershka chain store – in February 2006, first Pull and Bear chain store – in August 2006, and first Stradivarius – in April 2008.
Currently Apranga Group runs 32 stores of Inditex chain: 10 Zara, 8 Bershka, 8 Pull and Bear and 6 Stradivarius. The general area of these stores is 24.5 thousand sq. m.
The net sales of Inditex Group were EUR 12.5 billion in 2010, and have increased by 13% during the year. There were 5 044 “Inditex” group stores opened in 77 countries of the world on 31 January 2011, 710 of which were operated under franchise agreements. The turnover of franchise stores comprised 14% of the total “Inditex” group’s turnover.
Shares of Apranga are listed on Baltic equity list on NASDAQ OMX Vilnius Stock Exchange. Majority shareholder of Apranga Group is concern MG Baltic.
Saulius Bačauskas
Apranga Group CFO
+370 5 2390843