Estonia, EU – Baltic States, Good for Business, Industry

Entering new markets was made possible thanks to the cooperation agreement signed with leading Balkan retail company Montecristo SL. d.o. in July, Baltika said.

Raivo Videvik, export director at Baltika, said that expanding to new markets is a very important step for Estonia's most successful fashion brand, enabling it to be better represented in a region where a franchise store was opened in Serbia a year ago.

"The aim of the concession agreement signed for three seasons is to offer local customers something new and exciting while simultaneously increasing retail sales and hopefully finding new possibilities for franchise sales in the future," Videvik said.

Baltika's wish is to strongly increase sales on external markets, which is why the aim set is to find new cooperation partners and contribute more efficiently to export activity. Opening the Slovenian and Croatian premises is one of the first examples of implementing the refreshed export strategy.

Baltika Group owns five fashion brands -- Monton, Mosaic, Baltman, Bastion and Ivo Nikkolo. Monton was established in 2002 when Baltika Grupp launched the new international fashion brand initially on its five central retail markets -- Estonia, Latvia, Lithuania, Poland and Ukraine. Monton is currently active in 12 countries.

Revenue of Baltika Group decreased by 6% in the second quarter of 2018 compared to the same period last year to 11 mln euros and the company ended the second quarter with a net profit of 127,000 euros.