Conclusion of an agreement on cooperation
Current Report No.: 43/2016
Date: 08.08.2016; 15:37
The Management Board of LPP SA (the Issuer) hereby informs that on August 8, 2016 the Issuer and a company from Rapa Torg Group, based in Minsk (Belarus), signed an agreement on cooperation on a franchise basis. Under the agreement in the first half of 2017, the first RESERVED store in Belarus will be opened in Minsk Mall. The store with a floor area of approx. 2 thousand sq. m will offer the full range of products by the RESERVED brand. In the next two years, the Issuer plans to open up to three stores of the brand in the capital of Belarus. The conclusion of the above-mentioned agreement is part of the implementation of the strategy of LPP Capital Group assuming expansion into new markets, such as the countries of Western Europe, the Balkans, the Middle East as well as Belarus and Kazakhstan.