Tuesday, April 15, 2008 (Estonia)
Fashion retailer Baltika expanded retail network in Russia by opening their first shop in Kaliningrad, on Saturday 12th April.
The Monton store, which spans 550 square meters, is one of the main fashion anchors at the newest shopping centre in Kaliningrad, the Europa-Centr.The company is also planning to open 14-18 more stores in the second half of this year.
Jaan Järv, Baltika Development Director, says that opening new stores in currently existing markets like Russia is an important part of the company's development plans.
According to Mr Järv, Kaliningrad, with its population of 400,000, was chosen because it is the centre of an area that is relatively undiscovered by retail merchants.
"Many shopping centres are currently being built and there is not much competition. Baltika is definitely one of the strongest leaders of fashion merchandising in the area", said Mr Järv.
"We believe in Monton's success, and this has been backed by good sales figures in the opening days and the fact that Monton is both represented and performing well in five other Russian cities", the development director confirmed.
At the end of March, the second Monton store was opened in the Czech market - in Ostrava, the third biggest city. Anu-Mall Naarits, Marketing Manager of Baltika, said that the store became popular quite quickly and the sales figures are very good.
"I am glad about Baltika's developments in the new market. We have won the trust of the shopping centre developers over a short period of time, which gives us a good opportunity for further developments," added Ms Naarits.
Baltika is planning to open 14-18 new stores in the second half of the year. An Ivo Nikkolo store in Latvia will also be opened in the second half of the year.
Baltika
