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Thursday, 28.03.2024, 13:06
Baltika planning to boost online sales in Finland
The pop-up store is planned to be opened in December and remain open for
six months, the company told the stock exchange. Baltika is also planning several other activities to increase
online sales.
"If the pilot project is successful, we will see Finland as one of our
important markets, besides Estonia, Latvia and Lithuania, where we wish to grow
combining different sales channels to offer our customers a whole and the best
shopping experience as well as to grow the export of Estonian design to
neighboring countries," CEO Meelis
Milder said.
The brands of the Baltika group
have been represented on the Finnish market as of 2013. At present the company
sells two of its best-selling brands, Monton and Mosaic, in 19 different
Aleksi13 and Halonen malls across the country. "Since several of our
brands are already well-known in Finland and today's e-sales show that there is
great interest in Ivo Nikkolo, we decided to launch the pilot project,"
Milder said.
According to Milder, the Baltika
group sees increasing its sales through export and online sales as its best
growth engine in the coming years. Baltika's
design export has increased substantially in the past few years -- in the first
nine months of this year the company's wholesales and franchise sales grew 7%
to 5.4 million euros and e-store sales increased 38% in the same period of
time, exceeding one million euros.
Baltika Group, the parent
company AS Baltika, is an
international fashion retailer that develops and operates the fashion brands
Monton, Mosaic, Baltman, Bastion and Ivo Nikkolo. The retail sales network of Baltika includes 93 brand stores in
Estonia, Latvia and Lithuania. In addition, the company sells its products
online to 44 countries across the world.
The group employs a vertically integrated business model, which means that
it controls all stages of the fashion process: design, manufacturing, supply
chain management, logistics and wholesame, franchise and retail sales. AS Baltika shares are listed on Nasdaq
Tallinn Stock Exchange.