Furniture Lonas Ir Parneriai expanding to Latvia
. Lonas Ir Partneriai, a domestic manufacturer of furniture which opened its first store in Riga last summer, intends to open another two stores in Latvia by the end of 2005.
Sep 08, 2005. /Lesprom Network/. Lonas Ir Partneriai, a domestic manufacturer of furniture which opened its first store in Riga last summer, intends to open another two stores in Latvia by the end of 2005. Lonas Latvija, a Latvian subsidiary of Lonas Ir Partneriai, is offering over 50 kinds of mattresses, beds, and other furniture for sleep, the company reported.
Lonas Ir Partneriai has already invested over LTL75 000 (Euro 22 000) in Latvian.
Lono Mazmena, another subsidiary of the company, is expanding the network in Lithuania. The company already has four stores - in Jonava, Vilnius and Klaipeda, and intends to open another store in Kaunas this year.
Lonas Ir Partneriai, excluding subsidiaries, expects its sales to reach LTL12.55 million (Euro 3.6 million) by the end of 2005. In the preceding year, the sales of the company amounted to LTL10.36 million (Euro 3 million), an increase of 40% compared to 2003. The sales estimate of Lono Mazmena stands at LTL1.4 million (Euro 0.4 million) this year.