With Tenerife Franchise Entry, Monton Proves It's For Real ({{commentsTotal}})

Business
Business

Originally discounted as a prank by the local press, textile company Baltika has confirmed that it will open its first Monton brand store in Spain in August after striking a franchising deal on March 13.

The agreement with Mirworld Organization was the outcome of a year-long negotiation.

"Mirworld is a company with a considerable retail network and franchising agreement and will be a strong partner," said Andres Käär, director of wholesale and franchising operations at Baltika. "Monton is the younger, more trend-conscious partner who offers them a portfolio mainly geared at luxury and premium trademarks.

The first store will open on the island of Tenerife, in the new Parque Santiago mall.

Baltika officials said they saw the Canary Islands as an "interesting" way to enter the mainland market.

Monton previously had a franchise only in Belarus. The trademark, launched in 2002, accounts for 48 percent of Baltika's retail sales. It's marketed in over 50 brand stores in Estonia, Latvia, Lithuania, Ukraine and Russia.



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