Estonia’s largest clothing manufacturing unit has successfully recovered from the recession, with exports growing.
Baltika, the flagship unit of the Estonian textile industry, reported profits in 2012 after several years of steep decline. Likewise, smaller units, including Lenne, which makes children’s clothing, also reported good results. Lenne’s revenue last year increased by 25% to 20 million euros, and profit margins increased by one-third to 5.3 million euros.
The reason the clothing company did so well was that Lenne managed to increase sales of its finished products. The company said it plans to expand into Ukraine, Lenne’s third-largest market, where it is doing well.
