W.Kruk develops its network

APA - Austria Presse Agentur
18-10-2006, 12:13

Warsaw (Puls Biznesu) – The listed clothes and jewelry group is going to spend PLN 24m (EUR 6.2m) to launch new shops in Poland, Russia and Ukraine.

Warsaw (Puls Biznesu) – The listed clothes and jewelry group is going to spend PLN 24m (EUR 6.2m) to launch new shops in Poland, Russia and Ukraine.

W.Kruk group producing and trading luxury jewelry and clothes is going to increase the number of its outlets.

“Till the end of 2007 we are going to spend PLN 12m to develop the national network. The next year, we will spend the same amount of money”, Jan Rosochowicz, W.Kruk CEO said.

The group should consist of 55 jewelry shops and 30 clothes shops under Deni Cler brand in the future. Today, there are 40 and 23 shops, respectively.

Next year, the group is going to launch its first clothes shops abroad.

“Within three years we want to launch eight shops in Russia and three in Ukraine. The jewelry will be sold in the country for the time being”, Jan Rosochowicz said.

The company plans to work with foreign partners who will finance the projects. Every shop costs PLN 450,000.

In 2005, the group had PLN 5m of net income against PLN 123m of sales. This year’s forecasts amount to PLN 7.5m of net income against PLN 129m of sales. The company, which had losses two years ago, is improving its yield. Yesterday, the stock ended PLN 88.95.

(PLN 1 = EUR 0.257)

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Podpis: APA - Austria Presse Agentur

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