OREANDA-NEWS. May 24, 2010. The leader of retail apparel market in Lithuania and the Baltic States Apranga Group has agreed on distribution contract with French company PROMOD on the development of PROMOD brand stores in three Baltic States.

During next three weeks 2 PROMOD stores in Estonia, 3 stores in Lithuania and 3 stores in Latvia will be re-opened.

To this day one of the most successful vertically integrated French company PROMOD has 806 stores in 46 countries. The company's annual revenues is about LTL 2 milliard (EUR 0.6 milliard).

Apranga Group, which has taken over the chain of PROMOD stores from the Latvian company Fashion Retail SIA, will further strengthen the managed list of brands, and 4-5% increase in total revenues.

Apranga Group is among the largest retail trade companies in the Baltic States. Apranga Group represents 40 best-known trademarks of European apparel manufacturers and works under franchise agreements with Zara, Hugo Boss, Emporio Armani, Ermenegildo Zegna, Max Mara, Mango, Bershka, Pull and Bear, Mexx, Stradivarius, s.Oliver. Currently, Apranga Group manages 107 stores: 71 in Lithuania, 28 in Latvia and 8 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.