Estonia, Markets and Companies, Port, Retail, Transport

As part of the agreement, Tallink will add to its network of stores in Tallinn, one in the Ulemiste Keskus shopping center and one in the Rocca Al Mare shopping center, Tallink said.

The total revenue of Tallink's stores and restaurants exceeds 500 mln euros a year and makes up 56% of the company's total revenue. "Retail has an important part to play in Tallink Grupp's success," Paavo Nogene, CEO of Tallink Grupp, said.

"Dozens of strong brands are represented onboard our vessels. The development of our product range is something we work on on a daily basis. In addition to retail activity onboard, we have also been active in the retail sector on-shore for a number of years. We are confident that the five new stores in Estonia will now form a strong foundation for further developing our on-shore retail activities and there will be more news to share on this in the future," Nogene said.

"Jack & Jones and Vero Moda are both well-known fashion brands, which have been popular among customers on the Estonian market for many years. Adding these two brands will add variety to our portfolio and increase the range of products on offer to our customers," Aimar Parna, head of Tallink Duty Free, said.

The new franchise contract is the second such agreement for Tallink Grupp this year with which partnerships are developed with well-known brands. The group in February acquired the franchise rights of the globally known brand Esprit in Estonia and is operating the brand's three stores in the Ulemiste Keskus shopping center and Rocca Al Mare shopping center in Tallinn and the Kvartal shopping center in Tartu.