Baltika will launch Monton in Spain
Baltika’s (Estonian fashion retailer) expansion into Spanish market, briefly mentioned in the last paragraph of the stock exchange notice from the April 1 has proved to be true.
In another, more detailed press release, Baltika has confirmed that it has concluded a franchise contract with a Spanish enterprise Mirworld Organization to open the first Monton brand shop in Spain in August.
After negotiations held for almost a year, it was decided to give one’s hand on a bargain with this partner who has got extensive operating experience.
“Mirworld is a company with a recognized retail network and franchise experience that will become our strong partner. Monton as a brand aimed at younger and more trend-aware consumers will complement their brand portfolio containing primarily brands of luxury and premium level," explained Andres Käär, wholesale and franchise director of Baltika.
The first representation shop in Spain for the Monton brand will be opened in Tenerife – people spending early autumn holidays will find the shop in the new shopping centre Parque Santiago.
Tenerife and Canary Islands as a whole is an interesting opportunity for entering the Spanish market. In addition to two million permanent residents, the archipelago is annually visited by over three million tourists”, Kati Kusmin, the member of the Board of Directors of Baltika reveals the background of the decision.
Spain is the second country where the brand of Baltika will be entered on the basis of a franchise contract. Last year, first Monton franchise shops were opened in Belorussia.
Monton brand was created in 2002 when it was launched simultaneously in five markets. Today, the brand comprises 48% of the retail sales volume of the Baltika Group, and it is available in over 50 brand shops in Estonia, Latvia, Lithuania, Ukraine and Belorussia, as well as in the web shop.