Baltic biggest fashion company Baltika signed agreements on the purchase of the Bastion trademark and the acquisition of retail stores operated under the Bastion trade name. The parties have agreed that the price of the transaction will not be disclosed. Bastion positioning and collection handwriting will remain the same; Baltika´s target is to strengthen its export capability.
"Acquiring Bastion brand is part of the strategy of strengthening our brand portfolio and additional brand allows us to expand our target group of customers, to offer a wider product range and to increase our market share in the Baltics," said Meelis Milder, Chairman of Baltika Management Board. "Our target is to maintain Bastion positioning and collection handwriting and to strengthen its export capability. We see big potential for the brand in retail and wholesale in the Baltics, Scandinavia and Eastern Europe. We have similar successful experience with Ivo Nikkolo - we acquired the brand in 2006 and by today we have multiplied its revenus, number of stores and loyal customers."