Baltika sells its Estonian fashion brand house and retailer business to the European Lingerie Group

Estonia's leading clothing retail company, Baltika Group, has been acquired by the lingerie and textile company European Lingerie Group (ELG).

According to Baltika's management, the company's goal is to expand beyond the Baltics, initially into Poland. ELG could provide good momentum for this expansion since the company operates in Western Europe. Additionally, Baltika representatives believe that merging with ELG will lead to revenue growth by helping to increase production.

Baltika Group is a recognized fashion house with a long and prominent history operating in the Baltics. Baltika manages one of Estonia's oldest women's clothing designer brands, Ivo Nikkolo, known for its carefully selected quality garments and accessories. European Lingerie Group is a vertically integrated lingerie and textile company, producing lace and fabrics, medical textiles, and high-quality lingerie under the brands Conturelle, Felina, and Senselle.