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As already mentioned, the company will focus from now on women’s clothing and accessories. Margot Vaaderpass, an Estonian designer with international experience in the fashion industry, became the lead designer for the revamped brand.
According to M. Vaaderpass, the goal for her and the team is to grow the Ivo Nikkolo brand internationally, initially in the Baltic countries and later in the markets of Central and Eastern Europe.
“The first part of the brand’s revamped collection will hit stores as early as 2021. in spring, and the autumn-winter collection will fully reflect the revamped brand’s philosophy,” says designer M. Vaaderpass.
According to Flavio Perini, member of the Board of Baltika Group, for strategic reasons and the low demand in the market, Baltika will soon be delisting. elegant formal Mens clothing. However, the company is considering various options for trading in the men’s range in the future.
Sigita Pakalnienė, Retail Director of the Lithuanian Region, Baltika Lietuva Delphi He clarified that the brand portfolio is being gradually restructured by the company.
“First, the Mosaic and Bastion brands were abandoned, integrating these collections into the Monton collection. Currently, the company is critically analyzing its chain of stores. The Baltman stores and the old Ivo Nikkolo model are being gradually closed because these brands did not generate the desired commercial results.
The Monton network will soon change. Although this brand will be abandoned in the future, some of the more profitable Monton stores will become the stores of the renewed Ivo Nikkolo brand, ”reports S. Pakalnienė.
It is stated that in 2021. By the end of 2007, Baltika plans to have fewer than 40 stores in the Baltic countries.
Delphi recalls that it has already been written that the Baltika Group, which manages the Monton, Baltman and Ivo Nikkolo stores, is undergoing a restructuring, reducing costs and abandoning unprofitable stores through negotiations with creditors. A company spokeswoman said the pandemic had only accelerated change.
“Until now, Baltika has been a great mechanism: the company has carried out all the processes: from the creation of the collection, production to sale. (…) We focus only on trade. The objective of the business is to operate profitably. In all the Baltic countries, the company’s least profitable stores are closing, focusing on successful ones. Lithuania is no exception. ” Delphi explained above by S. Pakalnienė.
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