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Thursday, 25.04.2024, 23:07
Apranga Group extends franchise agreement with Inditex
BC, Vilnius, 06.01.2020.
Print version
Print versionThe listed Lithuanian clothing company Apranga Group, which also operates in Latvia and Estonia, has extended its franchise agreement with the Spanish fashion retailer Inditex.
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The agreement with Inditex regarding Zara, Bershka, Pull and Bear, Stradivarius, Massimo Dutti, Zara Home and Oysho brands was prolonged until 2022, Apranga told the stock exchange.
Collaboration between Apranga Group and Inditex started in 2004. Currently Apranga Group runs 50 stores of the Inditex chain, the general area of these stores is 44,900 square meters.
The net sales of Inditex Group were 26.1 bт euros in 2018. There were 7,490 Inditex group stores opened in 96 countries on Jan. 31, 2019 -- 1,078 of which were operated under franchise agreements.
The retail revenue of Apranga in 2019 grew 9.4% on year to 248 mln euros. In Estonia, retail sales rose 2.4% on year to 41.1 mln euros.
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