AS Baltika has signed an agreement to sell „Monton“ trademarks in Europe to a company Shenzhen Maiteng International Apparel Co., Ltd operating Monton Sports sportswear brand.
Baltika will continue with the implementation of the business model, focusing only on developing and marketing womenswear brand Ivo Nikkolo.The brand has already launched transitional season of spring/summer 2021, a brand new accessories concept and renewed e-store. In autumn 2021 the very first full clothing collection will be presented.
Until 2023 Baltika will still have the license to sell Estonian design under Monton brand. That is the transitional period Baltika is using to launch this year’s Olympic collection and sell final Monton brand items.
Baltika Group’s CEO Flavio Perini commented that selling Monton brand is an important milestone for the company’s business strategy. „Implementing our business strategy means that we’re stabilizing our financial situation and putting our whole focus only on Ivo Nikkolo. All the proceeds from Monton sale will be used to repay the loan to the bank which holds the pledge to the trademark.“