The company opened up its first retail store in 2002 in a shopping mall in the center of Zagreb. By 2010 the company had 8 retail stores, however in the past several years the company underwent a major expansion. Today the company has a total of 27 retail stores of which 25 are located in all the major cities in Croatia, while two stores are in Slovenia: Ljubljana and Maribor. The Company has 137 employees of which the majority are salespersons and the rest management and logistics.
Given the overwhelming success of the company on the Croatian market, management has made the decision to expand the retail concept to the neighboring markets of Slovenia, Austria and Serbia. These markets have already been thoroughly screened and management has identified prime retail locations with high pedestrian traffic to establish new retail stores.
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The clothing retail chain was established by a team of young and successful entrepreneurs who identified a niche in the market for a clothing store which would specialize in men’s formal and casual wear. While there are stores in the market which carry men’s clothing, none of them however offer the complete assortment of men’s formal wear as does the company.
The stores carry a wide assortment of men’s formal and casual wear including: suits, dress shirts, ties, pants, vests, scarfs, belts, etc. The style and design of each article of clothing (e.g. suits and dress shirts) are specifically chosen in order to match the taste and fashion needs of the local market.
The retail chain for sale also has branches in Slovenia, Austria and Serbia
Revenue has more than tripled in the past four years from 3.0m EUR to 9.4m EUR, a 47% compounded annual growth rate (CAGR), while gross profit increased from 1.7m EUR to 4.5m EUR. For the first six months revenue total 5.4m EUR a 22% increase as compared to 4.4m EUR for the same period last year.
Gross profit margin increased from 48.5% to 49.5%. The company achieves higher gross margins as management is able to procure textiles and produce clothes on the Asian market under its brand name, at competitive prices, while its competitors purchase finished products of well-known designer fashion brands, at significantly higher prices.
A chain of 27 retail stores located in prime locations in popular shopping malls. With the experience of opening stores in various locations, management has been able to determine with precision which locations/cities are most profitable.
The chief executive officer has a strong track record with over 20 years in retail business, with a wealth of experience in retail sales and supply chain management.
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