MADARA Cosmetics AS Opens a Brand Store in the Akropole Shopping Mall

Inside information, 2019-04-04 14:03 CEST (GLOBE NEWSWIRE)

Today in Riga, the fourth MADARA brand store is opened in the Akropole shopping mall. The investment in the brand store equals EUR 40 thousand.

The MADARA brand store in Akropole will complement the three existing brand stores in Spice, Galerija Centrs and Alfa shopping malls. In 2018, revenue of the three existing brand stores amounted in EUR 735 thousand, which is a 14.5% year-over-year growth. MADARA brand stores are an essential element of the sales strategy and brand recognition in Latvia, where clients can benefit from the full MADARA brand experience. Based on the past experience, a positive synergy between MADARA brand stores, e-commerce and other sales channels exists.

In April, a pleasant surprise awaits the shareholders who are registered for the Shareholders' Benefits programme and are shopping in the MADARA brand store in Akropole.

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The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.