EU – Baltic States, Good for Business, Lithuania, Markets and Companies

Establishment of footwear retail chain is a new business direction and challenge for the Group, the company said in a statement. "Aldo is one of the fastest growing shoes and accessories chain globally (&) Success of Aldo is beyond good quality on-trend fashion footwear and accessories at affordable price. Therefore we do not have doubts the brand will be welcome by Lithuanian customers," Apranga Group CEO Rimantas Perveneckas said. Aldo network is developed following franchising agreement which was signed in August 2011, reports LETA/ELTA.

The next openings are expected in coming days in Kaunas and Klaipeda of Lithuania. During next 5 years around 15 stores are planned to be open in Lithuania, Latvia and Estonia.

"We observe the market recovery signs in the Baltics. Our Group invests in the renovation of the chain, the competitive ability and develops the brands that potential we see for all three Baltic countries (&) We have intentions to introduce new brands to the market as a part of our multibrand stores City, Aprangos galerija or Apranga portfolio or as a free standing stores in a recent years", the CEO said.