CEO of Baltika: The company continues to implement its strategic turnaround
Baltika announced today and reported to the stock market that the KJK Fund SICAV-SIF, the major shareholder of the company, now holds approximately 89.73% of all Baltika shares after the mandatory takeover bid. “As a listed company, Baltika will continue to implement its strategic turnaround, and daily work in the direction supported by Baltika’s major shareholder the KJK Fund SICAV-SIF, and the Supervisory Board of Baltika voted for by our shareholders at the Annual General Meeting,” said CEO of Baltika Mae Leyrer.
Leyrer confirmed that the company’s most significant changes would be implemented by the end of February next year, and Baltika will be able to celebrate its first remarkable victories at the end of 2020. Baltika’s product development is now more efficient and customer-focused, the entire organization is moving towards digitalization, and we have restructured our retail management. “Baltika’s focus is to drive strong sales revenue across all brands and markets, and to contribute to online sales that are on the rise with marketing and development activities,” commented Leyrer.
In the summer, the company announced that the next step in the radical turn around would be in stages to merge the Mosaic, Bastion, and Monton brands under the most well-known one of them or Monton. “With the change in the brand portfolio we are moving at an agreed pace. We have now combined the men’s collection of Mosaic with the men’s collection of Monton and the Bastion collection with the Mosaic collection and will continue to operate in the men’s segment with one band and in the women’s segment with two brands,” said Leyrer.
“We closed the last Bastion store on 20 September. This does not mean that the Bastion customers can no longer find their favorite products. Our design and selection in stores will continue to be based on the preferences of our loyal customers,” added the CEO of Baltika.
From 2020, Baltika will enter the market with a renewed Monton brand, which will be directed at a broader target audience and consolidate all the existing mainstream brands.