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Wednesday 18.07.2018 | Name days: Rozālija, Roze
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Central Europe and post-Soviet countries appreciate Latvian lingerie production

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU, Edgars Štelmahers

Edgars Štelmahers

Lingerie production in Latvia boasts about old traditions to stand out not only in the Baltics, but also Central Europe and post-Soviet countries, Edgars Štelmahers, Board Chairman of the Latvian corset, nightwear and swimwear manufacturer New Rosme, told the business news portal BNN.

New Rosme is also exporting to the United States of America and Australia, thus we are pretty competitive also compared to the rest of the Baltics, Stelmahers says.

Asked for the key events of the sector in 2010, he points out the fact New Rosme launched new shops last year, returned to making profit and tackled the crisis.

The company turned 6 million lats in 2010, outdoing the performance of 2009 with 5 million and hundred thousand lats by 17.7 percentage points and hitting 375 000 lats in pre-tax profit.

This year we plan maintaining the same profit and boosting our turnover 10-20%, the Board Chairman indicates, stressing that New Rosme has developed a three-year development strategy. We promise both new products and new export markets. Moreover, we also plan extending our chain in the Baltics, he says.

The lingerie producer tackled the crisis by fully restructuring the company and cutting all the costs. Similalry, the staff was also reduced from 562 in 2006 down to 318 in 2011.

Asked for the sector’s future tendencies, Stelmahers affirms competition will grow and points out Eastern businesses are already merging, thus many powerful companies announce themselves as powerful competitors, making the whole competition in general more severe and professional.


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