Redan closes distribution deal with Morgan amid poor Q3 results

The deal has been signed and it will be in force for the next five years. The first batch of clothing Redan is going to buy will be the spring/summer 2006 collection. Paris based Morgan owns its exclusive boutiques in 55 countries worldwide, and also owns several hundred stands in multi-brand stores. Redan is also to build a new sales network in 2006. It plans to open five stores under the new Morgan brand and two 'corner' stands in multi-brand stores. During the next five years the number of its outlets is to grow to at least 20. The new chain will join the other Redan-owned retail sales networks, such as Top Secret, Textil Market and Troll. Redan recently published its October results. Its revenues calculated per 1 square meter of retail space rose in Troll to zł.731 and in Top Secret to zł.352. The company posted a Q3 zł.5.2 million net loss. (Parkiet, p. 6) D.W.