Estonian clothing trade group Baltika has signed an agreement on the sale of Monton trademarks to Shenzhen Maiteng International Apparel Co., ceasing to sell clothing under this brand from 2023, representatives of Baltika informed Skaties.lv.
JSC “Baltika” has signed an agreement on the sale of Monton brand trademarks in Europe to the company “Shenzhen Maiteng International Apparel Co., Ltd”, which is currently engaged in the sale of “Monton Sports” sportswear.
Baltika will continue to work on the implementation of its new business model, focusing only on the development and marketing of the women’s clothing brand Ivo Nikkolo. The spring / summer transition collection of the brand “Ivo Nikkolo” for 2021 has already been opened, as well as the new concept of brand accessories and the renewed e-shop. The first full clothing collection will be presented in the autumn of 2021.
Until 2023, the license for the sale of Estonian design clothes under the brand name “Monton” will belong to JSC “Baltika”. Baltika will use this transition period to present this year’s Olympic collection and sell balances of Monton branded goods.
Flavio Perini, Chairman of the Board of Baltika Group, commented to LETA that the sale of the Monton brand is an important turning point in the company’s business strategy. ”Implementing our business strategy means stabilizing our financial situation and focusing only on the development of the Ivo Nikkolo brand. All proceeds from the sale of Monton will be used to cover the bank loan held by the trademark. “
Flavio Perini, Chairman of the Board of Baltika Group, emphasized that the sale of the Monton brand is an important turning point in the company’s business strategy. Implementing our business strategy means stabilizing our financial situation and focusing only on the development of the Ivo Nikkolo brand. All proceeds from the sale of Monton will be used to cover the bank loan that holds the trademark pledge, “he said.
The value of the transaction and other details are not disclosed.
At the end of last year, SIA Baltika Latvija, part of the Baltika Group, had 16 stores in Latvia.
It has already been reported that in December, Baltika Group made a strategic decision to focus on future clothing development and production only on the Ivo Nikkolo brand, which offers women’s clothing. Until now, Baltika Group stores operated under the brands Monton, Mosaic, Ivo Nikkolo, Baltman and Bastion.-
In 2020, the turnover of Baltika Group decreased by 50.8% and amounted to 19.48 million euros, while the Group’s losses decreased several times and amounted to 377,000 euros.
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