The Warsaw Stock Exchange retailer Gino Rossi revealed it is currently in works to enter new eastern markets and is currently working on opening two stores in Bulgaria and Kazakhstan.
“These are not yet developed countries, where the competition is still very low, which makes a favorable market environment for a brand like ours, ” says Krzysztof Marek, Export Director for Gino Rossi. He reveals that while it’s largely using franchise partners to expand outside its home market in Poland the company will be operating the two new stores by themseves. “We’re pretty confident about the move, which we see as the first step in developing our chain on these two markets,” said Marek.
The company recently secured a PLN 20.5m loan from the Polish lender Bank Zachodni BZ WBK. “It will make it possible for us to refinance our debt to provide lower operational costs,” the company said in a statement.
