Apranga Group expands luxury segment chain

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| Source: Apranga
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Vilnius, Lithuania, 2014-03-21 09:00 CET (GLOBE NEWSWIRE) -- Apranga Group follows development plans and expands luxury segment chain by adding new concepts. These are Weekend MaxMara and Armani Jeans stores which are planned to be opened in the shopping malls. Today Weekend MaxMara opens in Riga, shopping mall Spice, which will be followed by the opening of another one store in Vilnius, shopping mall Europa, in middle of April. Armani Jeans stores in Lithuania, Latvia and Estonia will be opened shortly with planned locations in the shopping malls as well.

“We observe a positive trend in the luxury segment few years in a row – it is one of the most growing segment in our Group last year. Therefore we see more prospects and development opportunities here. Weekend MaxMara, which is MaxMara Group line and Armani Jeans which is Giorgio Armani Group line are commercially attractive brands and concepts. At the same time it is a certain impulse for the shopping malls to look for and attract a different profile customer”, - says Rimantas Perveneckas, General Director of Apranga Group.

Currently Apranga Group operates a chain of 152 stores in the Baltic States: 94 in Lithuania, 43 in Latvia and 15 in Estonia. Shares of Apranga are listed on Baltic equity list on NASDAQ OMX Vilnius Stock Exchange. Majority shareholder of Apranga Group is concern MG Baltic.

         Rimantas Perveneckas
         Apranga Group Director General
         +370 5 2390801