Stenders continues worldwide expansion
Stenders, a Latvia-based beauty and cosmetics retail franchise, is set to continue its expansion by launching 10 new stores by the end of this year. The company has finalised franchise agreements that will see the franchise entering four new countries: Austria, Denmark, Slovenia and Croatia in October and November. New shops will also be opened in already existing partner territories of China, Sweden, Hungary and Russia.
Stenders entered Demark on the 2nd October with the opening of its first store in Copenhagen. Stenders is also set to launch its franchise in Austria with the opening of two stores, one on the 16th October and the other on the 17th October. A location for a third outlet is also being sought. Ieva Eglite, Head of Foregin Trade Department of Stenders, said: "The courage and enterprise of the Austrian franchise partners truly gives us great satisfaction and pleasure, as well as somewhat of a pleasant surprise. For us it is an unprecedented case that a partner starts a business on a new territory by opening two shops at once! And these partners with great resolve are Latvians."
The first Stenders shop will open in Solvenia in November and in December one will launch in Croatia. Ieva added: "After having concluded franchise contracts with partners from Slovenia, Greece and Croatia, we can finally say with confidence that Stenders has spread all across Europe. The contracts about these territories are an important step in the development of Stenders and bring us closer and closer to the large objetive - the opening of our shops in the USA."
By the end of 2009 new shops will also open in existing franchise territories. A shop was opened in Russia and two were launched in China in September. In Sweden a second Stenders shop is set to open later in October and a sixth Stenders store will open in Hungary during November.
Ieva commeneted: "We have also concluded a franchise contract with the representative of the territory of Saudi Arabia. The first Stenders shops will open in Saudi Arabia next year, as a lot of preparatory work needs to be carried out prior to starting sales on this territory. Furthermore, men will work as shop-assistants in the Saudi Arabia Stenders shops; that means that we may need to overcome several cultural differences. In the nearest future we are also planning to open the first Stenders shop in Greece, it is possible that we will manage to do that still this year."