The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) is providing a senior loan of up to US$ 4 million to a privately owned Belarusian garments producer Mark Formelle. The loan will finance the retail expansion of Mark Formelle’s operations in Belarus as well as the neighbouring markets of Russia, Ukraine and Kazakhstan and the restructuring of its balance sheet, according to EBRD.
The company, which specialises in the production of garments such as T-shirts, sleepwear, underwear and other speciality clothing such as thermal underwear, is planning to almost double the number of its own branded retail outlets in Belarus and expand the franchisee chain in the region.
The EBRD has been successfully involved with the company since 2012 in the context of the EBRD’s Business Advisory Programme funded by the European Union.
The Programme helped Mark Formelle to find a local marketing consultant to complete a customer survey, develop a brand concept aimed at target customers and develop a marketing plan to raise brand awareness, according to EBRD.
It also mobilised international advisers, which helped the company in various areas ranging from the development of new collections, advertising and supply chain management, to production planning, pricing policies and merchandising practices development.
The EBRD is a major investor in Belarus. As of November 2014 the Bank had signed 66 projects worth over €1.4 billion, €883 million of which was invested in the past five years, according to EBRD.
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