APRANGA Group acquired MEXX business in Latvia
APRANGA Group, a leader of clothing retail business in Lithuania
and in the Baltic States, has acquired the Dutch company MEXX
business in Latvia from Latvian company BaltikaL SIA. After
reconstruction, on 24 August, a MEXX store will be opened in Riga,
in trading centre MOLS. This will be already the 13th chain store
of APRANGA Group in the capital of Latvia. Next week APRANGA Group
is going to open two more stores in Riga – the second MEXX store
and CITY men&women.
According to R. Perveneckas, General Director of APRANGA, the Group
seeks to control the main cloths brands in all the Baltic States.
The acquisition was made under the initiative of APRANGA and MEXX.
MEXX is neither the first nor the last business acquired or intended
to be acquired by APRANGA Group. Last year APRANGA Group acquired
La Perla business in Lithuania.
Between January through July of the year 2006, the turnover of
APRANGA Group in Latvia accounted for LTL 36.1 million (EUR 10.5
million) (25.3% of total turnover of the Group) and increased by 55,4%
if compared to the turnover of the same period of the last year.
According to the non-audited data, in Latvia APRANGA Group gained
profit of LTL 2.1 million (EUR 0.61 million) before tax within the
first 7 months, which is 4 times more if compared to the same period
of the last year.
Within 3.5 years of business in the Latvian market, APRANGA Group has
formed up a trade net consisting of 15 chain stores. In the following
1.5 years, APRANGA Group is going to open at least 10 more chain stores,
including two ZARA stores, two BERSHKA stores, two Pull and Bear stores,
Ermenegildo Zegna and stores of other brands.
APRANGA Group belongs to one of the largest concerns of Lithuania
– MG Baltic.
Rimantas Perveneckas
General Manager
+370 5 2390 801
