ITALY: Stefanel Begins Spanish Expansion Drive
On the back of this growing business the company says it expects its Spanish operations to contribute 1.65 million euros ($1.653 million) to its 2002 turnover. Stefanel is forecasting a total turnover of 900 million euros ($901.5 million) for fiscal 2002.
The clothing firm has signed a master franchise agreement with the company White & Gi, which is currently negotiating with potential franchisees in Spain. It is planning to open five shops in 2003.
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