Euromark to scale the bourse
Euromark Polska, the owner of the Campus and Alpinus outdoor apparel brands, says it plans an IPO in Q3 2006. The company recently submitted its issue prospectus to the Securities and Exchange Commission.
"We would like to use the funds to expand the Alpinus brand. We're also planning expansion in the UK and Ukraine," Tim Roberts, the president of Euromark, told WBJ. "We would like to raise between zł.25 and zł.40 million. But we'll be able to be more specific after the IPO is approved [by the Commission] and after the book building. At the moment the stock market is going down, some companies have delayed their IPOs - we keep that in mind."
Euromark, which designs and manages its brands but outsources production to the Far East, has now got three outdoor labels in its portfolio - the mid-market Campus, the upmarket Alpinus and a youth brand, Stir Crazy. In 2007 the company will launch an upmarket women's brand, Snow Cat.
Some 25 percent of Euromark's production is sold abroad in Russia, Ukraine, Lithuania, Hungary and Slovakia. In Poland, the company's products are sold in 22 agency shops, 280 wholesale shops and four Planet Outdoor outlets. "We currently have four retail stores of our own. By 2011, we would like to have 40," Roberts says.
In August this year, Euromark is opening its first store in the UK in Southampton, where it would also like to focus more on internet sales. "Thirty percent of retail growth in the UK is via the internet so our business model for the UK is to have an internet shop. It's a new scheme but we want to give it a try," Roberts explains.
In the fiscal year ending on February 28, 2006, Euromark's consolidated revenues reached zł.82.4 million while net profit amounted to zł.8.1 million. Euromark is owned by TMR Investments Ltd, which is controlled by Tim Roberts, with 95.8 percent of shares, and Tomasz Kosk, Euromark's deputy president, who has the remaining 4.2 percent.
