Debenhams to open two new stores in the Baltics
Debenhams is to extend its foothold in the Baltic region by opening two stores in Latvia and Estonia.
Based in Riga and Tallinn, the new shops are a further step towards one of the retailer’s key growth pillars to expand the brand internationally.
The Latvian store will open in March 2014 in Spice, one of the two biggest shopping centres in Riga. The shopping centre currently has more than 150 shops, services and catering facilities covering 77,000 square metres.
The retailer will also open a store in Tallinn, Estonia in the autumn of 2014 which will sit over two floors of the new Panorama City shopping centre.
This will be Debenhams’ second store in Tallinn, following the opening of its first store in the city this September at the Rocca al Mare shopping centre.
Franchisee Juergen Roehlinger and real estate development company, ELL Real Estate, will manage Debenhams’ Baltic openings.
Debenhams international director Francis McAuley said: "We're delighted to continue our growth in the Baltics with our franchise partner and to be opening our first store in Riga. This is a dynamic, growing region which is currently under represented in the department store sector.
"We will bring our unique department store retailing experience with our strength in exclusive fashion brands and focus on designer ranges at high street prices."
Debenhams plans to open six stores in total in the Baltic states, creating more than 200 jobs.
Vaiva Kirvelaite, Debenhams brand manager in the Baltics, added: "Debenhams has been expanding internationally very successfully. As the investors, we see many possibilities in the Baltic market and an opportunity to bring new brands and the best of British design here.
"We are proud to offer the Debenhams mix of exclusive designers at great value prices to the Estonian and Latvian public, bringing the UK high street experience here for the first time."
Debenhams said that it is aiming to increase its number of international franchise stores to 150 over the next five years.
Interact with top-quality speakers at the Retail Bulletin's 2nd International Expansion Summit 26th March 2013.Confirmed speakers include George International, Bench, Costa Coffee, Mothercare, The Hamleys Group, Alliance Boots, Austin Reed, Hobbs, Icon Live, Codex Global, The Javelin Group, Field Fisher Waterhouse LLP, Ogone UK and Codex. The event is designed for UK retailers who are planning for or are developing an international growth strategy. Register now to secure your place.
Email this article to a friend
You need to be logged in to use this feature.
Please log in here