Empik goes shopping in Ukraine

In March the company opened a Smyk store in Berlin and now the group is going to invest in Kiev, Ukraine. It will take over two Ukrainian companies for USD 11 million. The first one is Bukva, which has a network of 27 bookstores, the second is Paritet Servis Retail, which owns two shops for children in Kiev. According to numerous analysts, Ukraine resembles Poland in its early 90s - it is a fast growing market with developing demand for quality products. Therefore, the market is also being explored by another Polish company - LPP, which owns fashion clothes networks Reserved and Cropp Town. EM&F posted 2005 revenues of zl.1.17 billion, invested zl.82 million in its development, in H1 this year opened 10 new shops and was visited by 48 million customers. (Dziennik, August 26-27, p. 20; Rzeczpospolita, August 26-27, p. B1) J.L.