Apranga APB Announces Franchise Agreement with Burberry Limited
Apranga APB announced that it has signed a franchise agreement with Burberry Limited to open Burberry stores in three Baltic countries. The first Burberry stores in Riga, Latvia and Tallinn, Estonia will be opened in the second half of 2012. As of December 31, 2011, Burberry had 189 retail stores, 208 concessions, 46 outlets and 56 franchise stores. Currently, Apranga APB operates a chain of 121 stores in the Baltic States, 78 in Lithuania, 32 in Latvia and 11 in Estonia.