Vistula Group to focus on development of jewellery business
2010-07-28
The
Vistula Group, the prominent jewellery and clothing concern, is planning to speed up the development of its retail chains, according to a report in
Parkiet. The company will focus mainly on the expansion of a jewellery network under the
W.Kruk name. The number of the latter chain’s stores is to increase by 70% to 100 establishments over two years.
Vistula’s management emphasises that jewellery is more profitable than
clothing. However, the company intends to expand its clothing chain brands:
Vistula,
Wolczanka and
Deni Cler, by 5% each per annum.
Because of the limits on the company’s investments imposed by Fortis Bank, which loaned money for the acquisition of W.Kruk, the group can spend only PLN 5m (€1.2m) on the expansion of the chain in 2010. This amount will allow the company to set up 15 stores.
At present, the Vistula Group manages 240 establishments in total, of which Vistula and Wolczanka have 70 stores each, whereas Deni Cler has 30 outlets.
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