Mondex has 2.1m euros to double its network

Sibiu-based Mondex, a socks and stockings producer, has budgeted investments worth some 2.6 billion euros this year to expand its sales network and its production capacities. The Mondex management allocated 550,000 euros for the development of production capacities, while for the development of its own store network, Mondex is to invest some 2.1 million euros. Mondex currently owns 52 stores throughout the country, and by the end of the year, intends to bring their number to over 100, with the minimum investment for opening a store standing at around 45,000 euros. “The year began with the investment in production facilities, targeted at acquiring new equipment for the production of fine women’s and children’s stockings. We think the investment in the equipment will generate a 50% production increase in this segment,” Calin Bogdan Vircolacu, one of the shareholders of Sibiu-based Mondex, told ZF Transilvania. Following investments that will be made in 2007, the management of the company estimates an approximately 13 million-euro turnover for this year, a value representing an approximately 43% increase against last year, when this indicator stood at 9.1 million euros.