Empik Media & Fashion (EMF) group intends to introduce New Look and Peacocks clothing brands to the Polish market. The New Look stores are to be opened in the Renoma shopping gallery in Wroclaw in December 2009 and in Zlote Tarasy and Galeria Mokotow shopping centres in Warsaw in Q1 2010.
The first Peacocks store will be launched by the end of November 2009 in Focus Park shopping centre in Bydgoszcz. The group plans setting up around five stores of both brands per year in Poland. New Look establishments are to take up between 500 m² and 800 m², while Peacocks outlets will have around 500 m².
Moreover, EMF plans to open around 80 stores in 2010 worldwide. The value of the investments is estimated at PLN 100-130m (€24.4-31.7m).
After the first nine months of 2009 the group increased its sales revenues by 24% to PLN 1.79bn (€436.6m), while the net profit declined by 84.4% year on year to PLN 3.3m (€0.8m). Empik multimedia store chain increased its net profit by 448.1% to PLN 30.5m (€7.4m) and Smyk, offering clothing and accessories for children reported 204.3% rise to PLN 6.5m (€1.6m). In turn, the segment of fashion and cosmetics reported PLN 31.4m (€7.7m) of a net loss after the first nine months of 2009.