Gino Rossi to enter 3 Eastern markets

WSE-listed shoe retailer Gino Rossi has signed a partnership agreement with Presto Limited based in Russia to distribute its products on the Russian, Kazakh and Belarusian markets, the company said. The value of the contract is estimated at approx. PLN 3 million. “According to Gino Rossi, the establishment of the above-mentioned co-operation can open a significant new distribution channel for the issuer's products in the following countries: Russia, Belarus, and Kazakhstan, which may generate significant future sales of the company's products and affect its financial results,” Gino Rossi said in a market filing. The company also stated that the value of the contract is estimated at PLN 3 million, but its final value will be the result of the volume of orders executed by Gino Rossi to the buyer.