Baltic states fashion retailer Apranga has reported a significant 19.1% increase in retail turnover in December 2023, reaching a record-breaking €33.6m ($36.9m).  

This performance marks the highest monthly turnover in the company’s history. 

The retail turnover including value added tax (VAT) for Apranga in the fourth quarter of 2023 was €95.2m, marking a 12.6% year-on-year (YoY) increase compared to the same period of the previous year.  

During the quarter, the retailer saw a notable rise in sales across the Baltic region, with turnover in Lithuania growing by 12.3% YoY, Latvia’s by 16.6% YoY and Estonia’s by 7.1% YoY. 

The unaudited full-year figures for 2023 further underscore the company’s strong performance, with a retail turnover of €326.4m, an 11.3% increase from the previous year.  

Country-specific data reveals that Lithuania registered €196.9m retail turnover, up by 10.6% from the prior year; Latvia reported turnover growth of 12.1% YoY to €79.5m, and Estonia reported 12.6% YoY growth to €50.0m.  

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By GlobalData

In 2023, Apranga expanded its retail footprint by opening 12 new stores and renovating eight, with five stores being enlarged and three shifted to different shopping malls.  

The retailer also streamlined its operations by closing 11 stores during the year.  

Apranga now operates 169 stores across the Baltics, with 100 in Lithuania, 44 in Latvia and 25 in Estonia. 

Its retail space covers a gross area of 90.8 thousand m², up by 0.2% from the previous year. 

In 2024, the company expects to reach €350m turnover and plans to invest between €5m and €7m and renovate or open 12 to 15 stores.