Estonia: Finnish furniture retailer´s stores boost sales 40 pct in 2002

The sales of Indoor Group AS, owner of the Sotka and Asko furniture retail malls in Estonia, increased 40 percent in 2002 compared with the preceding year.
The group´s profit was at the same level as in 2001, CEO Niko Romanainen told BNS.

The increased sales were to a large degree the result of the opening of a new Sotka store in Tartu in August. The new store posted 30 percent bigger sales last year than set out in the budget plan and has been doing well in the first quarter of 2003 too, Romanainen said.

Indoor Group now has one Sotka and one Asko furniture mall in the capital Tallinn and one Sotka mall in Tartu.

In 2001, sales of Indoor Group amounted to 57.8 million kroons (EUR 3.7 mln) and net profit to 6.2 million kroons.

The Finnish Indoor Group also runs Sotka and Asko furniture malls in Riga and is planning to open a new mall in the Lithuanian capital Vilnius at the end of this year or in early 2004.