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The first five stores in Lithuania, Latvia and Estonia have been taken over from a Latvian company, the previous Karen Millen partner in the Baltic countries.

“The Latvian company has been stripped of the right to use the trademark of Karen Millen due to violations, we’ve signed a new franchise contract with Karen Millen Fashions, acquired the assets of the stores located in shopping centers and signed new commercial contracts,” Rimantas Perveneckas, Apranga CEO, told BNS.

He emphasized that this was a takeover of a chain of stores, and not acquisition of business.

“The stores that have been taken over will be opened, after a minor reconstruction, as early as this weekend.  We hope to expand the Baltic chain of stores of this brand to 7 or 8 in the nearest time. They may account for up to 1.5% of the total turnover of Apranga group,” Perveneckas said.

Apranga, which is controlled by MG Baltic concern, is quoted on the blue-chip Main List of the NASDAQ Vilnius Stock Exchange.