Published: 2019-09-05 14:22:04 CEST
Investor News

In Riga – the second stage of Apranga Group expansion: opening eight stores, including Latvia’s first Zara Home

On 5 September, Apranga Group, leading fashion retailer in the Baltic States, is opening eight stores at Riga’s Alfa shopping center, the largest in the capital city. The shopping center will have the first Zara Home store in Latvia, as well as new Massimo Dutti, Oysho, Stradivarius and Moskito stores. Pull&Bear, Bershka and the latest 2,900 sq. m. Zara concept store have been moved to the new part of the shopping center.

The elegant and modern 500 sq. m. Zara Home is the first one in Latvia. There are four Zara Home décor stores in the Baltic States – in Vilnius, Kaunas, and Tallinn, and now in Riga.

“Expansion at the Alfa shopping center is an important stage in the process of reconstruction in Latvia. Combining Alfa and Akropole stores results, that already meet our expectations, we hope to exceed our plans in Latvia this year,” says Apranga Group General Director Rimantas Perveneckas.

Apranga Group stores at the Alfa shopping center have a gross area of 6,500 sq. m. and will create more than 140 workplaces. The stores are equipped with energy-efficient technologies, efficient lighting systems, and employee-friendly workplaces, and particular attention is given to customers and their convenience.

This year, Apranga Group’s plan in Latvia is to renovate more than 50% of its retail chain space and open more than 20 new and refurbished stores. This spring, Apranga Group opened 11 new stores in the Akropole shopping center in Riga.

About Apranga Group

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

Apranga Group operates a chain of 192 stores in the Baltic States: 111 in Lithuania, 52 in Latvia and 29 in Estonia, with a total retail floor area of over 94,000 sq. m.

Rimantas Perveneckas
Apranga Group General Director
+370 5 2390801