Mint Capital backs Maratex
Maratex was formed in 2006 by the merger of Baza and BTI Systems, which have the franchises for the Esprit brand in Ukraine and Russia respectively.
Maratex also holds exclusive rights to operate shops for UK brand Peacocks in Russia and Ukraine, French brand Lulu Castagnette in Russia and Kazakhstan, and the Inwear and Matinique brands in Kazakhstan.
«We have always seen big potential in the retail market, especially apparel,» said a spokesman for Mint. «Maratex is well positioned. It has an experienced management team, a strong brand portfolio and operates in one of the fastest-growing areas of the clothing market — the mid-priced range.»
Maratex operates 25 stores in Russia and eight in Ukraine. These comprise 18 Esprit stores, eight Peacocks stores and seven Lulu Castagnette stores. It plans to open its first Inwear / Matinique stores this year. The investment from Mint will fund the expansion of its retail network.
This is the first time Mint has invested in clothing retail in Russia and Ukraine.