Published: 2019-04-04 12:28:18 CEST
Apranga
Investor News

Shoppers in Riga will be the first to see what is new from Apranga Group

On April 4, Apranga Group is opening 11 new stores in the Latvian capital of Riga with a total sales area of over 8.5 thousand sq.m. New Apranga, Zara, Bershka, Pull&Bear, Stradivarius, Massimo Dutti, Oysho, Mango, Orsay, Moskito and Aldo stores will be opening their doors at the Riga Akropole shopping center. After renewal, the retail floor area in Riga will be increasing by nearly a quarter – 23% – compared to April 2018.

Akropole will be home to the largest Zara, Massimo Dutti, Bershka, Pull&Bear, and Oysho stores in the Baltic States. Zara total sales area will be more than 3.3 thousand sq. m., the first in Latvia Oysho – 400 sq.m., others – more than 700 sq.m. Visitors to the Group’s other stores will also be greeted with surprises and the latest design solutions. Riga Akropole visitors will see the newest retail concepts in the Apranga Group chain, including much more spacious sales areas, stores without external showcases, and other solutions that make shopping not only more convenient, but more pleasant as well.

Active preparation for the opening of new stores lasted more than five months, with a team of about 60 people working on the project. The newly opened stores have created 170 job places. All the stores are equipped with energy-efficient technologies and employee-friendly workplaces, and particular attention is given to customers and their convenience.

Following the chain restructuring with new openings and renovations, this year more than 50% of the sales area in Latvia will be renewed. This autumn, Apranga Group will also be carrying out renovations at Riga’s Alfa shopping center, where 11 stores are planned to be reconstructed or opened.

“We value cooperation with Akropolis Group and believe in the success of their projects. The renewal in Latvia will bring our stores to a new level – we hold ourselves to the highest quality and customer service standards. We set ambitious investment goals this year, and the initial work has been very encouraging,” says Apranga Group General Director Rimantas Perveneckas.

According to Mr. Perveneckas, the effects of expansion will already be tangible this autumn and are expected to dictate the growth rate for next year as well.

About Apranga Group 

Apranga Group plans to reconstruct or open 35–40 stores this year, and net investment in 2019 will come to EUR 12–15 million. There are plans to achieve a turnover of EUR 242.6 million in 2019, which is 7.0% more than in the previous period.

With the opening of 11 new stores at the Riga Akropole shopping center, Apranga Group operates a chain of 189 stores in the Baltic States: 111 in Lithuania, 49 in Latvia and 29 in Estonia.

Rimantas Perveneckas
Apranga Group General Director
+370 5 2390801