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International Internet Magazine. Baltic States news & analytics Sunday, 31.05.2020, 05:16

Owner of Zara fashion stores in Latvia raises sales 8.7% in 2017

BC, Riga, 15.08.2018.Print version
Apranga LV, the Lithuanian-controlled owner of Zara fashion stores in Latvia, closed 2017 with higher turnover and profit, according to business database, informed LETA.

The company posted EUR 15.118 mln in annual turnover, up 8.7% from 2016, while the company's profit grew 8.3% to EUR 1.561 mln.

The company’s management said that 2017 had been successful in Latvia’s market. The price reduction strategy brought the planned results and ensured a sustainable growth in the competition.

2018 will be a significant year for the Zara brand to keep the achieved turnover result. The role of online channel will increase.

As reported, in 2016, the company posted EUR 13.914 mln in sales and earned EUR 1.441 mln in profit.

Established in 2004, Apranga LV has a share capital of EUR 142,287. The company belongs to Lithuania's Apranga Akcine Prekybos Bendrove.

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