The Lithuanian-based company is the largest apparel trading group in the Baltic States, and is controlled by MG Baltic Group, an investment company. Its turnover reached €228.3 million ($261.5 million) in 2021, 11.8 percent more than in 2020.
The group runs a network of 169 stores in the Baltic States – 102 in Lithuania, 46 in Latvia and 21 in Estonia. In Latvia, the company manages Apranga, Bershka, Burberry, Emporio Armani, Ermenegildo Zegna, Hugo Boss, Mango, Zara and more. In 2021, the Apranga Group added five new stores to its retail network and closed 15 others.
The turnover of the network in 2021 in Lithuania alone amounted to €146 million ($167 million), in Latvia – €46.3 million ($53 million), in Estonia – €35.9 million ($41.5 million), Apranga reported in filings to the Nasdaq Vilnius stock exchange.
In the fourth quarter, the group’s turnover amounted to €70.2 million ($80.4 million), growing 30 percent compared to a year earlier. In Lithuania, turnover was up by 51.6 percent, Latvia decreased by 5.4 percent and Estonia increased by 14.4 percent year-on-year.
Russia’s online mass market fashion leader has launched in three Baltic states, adding Latvia, Lithuania and Estonia to its rapidly growing roster of international markets. It is now present in 16 countries outside its home market.