Stockmann will open a full-scale department store in Vilnius, the capital city of Lithuania. Stockmann has signed a preliminary lease agreement with a Lithuanian company Akropolis UAB in order to lease space for its department store in the shopping mall of a new multifunctional centre, close to the Vilnius city centre at Gelezinio Vilko street. The mall has been planned to open towards the end of 2010. The Stockmann department store whose total retail space will be approximately 13 000 square metres will be one of the anchors of the shopping mall. The total gross leasable area of the mall will be 82 000 square metres.
The Stockmann Group is expanding rapidly in both the Baltic countries and Russia. In the Baltics, Stockmann already has a department store in Tallinn and Riga. In Finland there are seven Stockmann department stores, and four in Russia. According to plans, four new department stores will be opened in Russia in 2008-2010.
Source: Stockmann PLC