Bytom’s new chairman working on strategy

2010-08-09

Michal Wojcik, the new chairman of Bytom, the menswear producer, is planning to focus on the dynamic development of a retail chain offering clothing under the Bytom brand name, according to a report in Parkiet. For the implementation of the strategy the company needs PLN 20m (€5m), which is to be raised from a share issue. The company has not yet decided whether the issue will be directed to the company’s shareholders or will proceed without pre-emptive rights. Nevertheless, Mr. Wojcik has revealed that negotiations with a potential investor have already begun.
Within two years the number of establishments is to be doubled. This will mean 50 new stores to appear on the market. The previous management board had planned to set up 17 new stores over the following three years.
Moreover ,the new chairman also plans to transform a plant located in Tarnowskie Gory into a subsidiary company. At present, the factory does not work at full capacity, and the new management therefore plans to improve its effectiveness and to acquire new orders.
The strategy for Dolwisand Intermoda Fashion both Bytom subsidiaries, will be announced by the end of August 2010, along with the group’s financial prognosis. The previous forecast for Bytom, presented in June 2010, has been cancelled.