Ivo Nikkolo, an Estonian based well-known premium trademark bearing the name of its founder, was created in 1994. In addition to three stores and several resellers in Estonia, the products are sold in Finland, Sweden and Denmark. The 2005 sales of OÜ Zik-Zak that markets Ivo Nikkolo collections amounted to EEK 23 million (EUR 1.5 million).
With the acquisition of the trademark, Baltika enters the premium ladies’ fashion market. Baltika plans to expand the chain of Ivo Nikkolo stores into the markets where the Group is already present with its other brands. It is planned to increase the number of stores to nine and the sales space to 1,000 square metres by the end of 2007. The sales target in 2007 is EEK 45 million (EUR 2.9 million), i.e. double of 2005 sales.
The price of the transaction is confidential. However, as the transaction amount does not exceed 10% of the Group’s consolidated balance sheet amount, equity or sales, it is not regarded as significant according to the Tallinn Stock Exchange rules.
Triin Palge
Head of investor relations
+372 630 2886
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