VRG S.A. (Poland)

VRG S.A., formerly known as Vistula Group S.A., is a company listed on the Warsaw Stock Exchange since 1993. The VRG S.A. Capital Group specializes in designing and distributing high-quality fashion collections for men and women, as well as jewelry. The company owns well-recognized trademarks in five main lines: Vistula, Bytom, Wólczanka, Deni Cler Milano, and W.KRUK. VRG S.A. focuses on brand management, clothing and jewelry design, and the development of its own sales network in both the clothing and jewelry segments. The current form of the VRG S.A. Capital Group has been shaped by an intensive process of mergers, acquisitions, and restructuring in recent years. VRG S.A. has acquired and created new clothing brands, revitalized the image of its most recognizable own brands, and strengthened its market position in the promising jewelry segment. The development process included a merger with the publicly traded company Wólczanka S.A. in 2006, gaining control over the publicly traded company W.KRUK S.A. based in Poznań, and indirectly over DCG S.A. in 2008, as well as the formal merger by acquiring the assets of W.KRUK S.A. based in Poznań in December 2008, and subsequently spinning off the jewelry business to the subsidiary company W.KRUK S.A. based in Krakow through the contribution of an organized part of the enterprise. The most recent stage of this strategy was the merger with the publicly traded company Bytom S.A. formally completed in November 2018. As a result of these intensive activities, VRG S.A. has built a capital group comprising well-known Polish brands operating in the fashion, jewelry, and luxury goods markets. Since 2000, the basis of VRG S.A.'s strategy has been the implementation of the "House of Brands" vision and becoming a distributor in the retail market. Faced with a decline in revenues from processing exports due to clients moving to more competitive markets in the Far East, VRG S.A.'s own production potential is gradually being reduced to adapt it to existing sales opportunities in the domestic and foreign markets. Production activities are being transferred to other specialized domestic and foreign entities that are not financially or organizationally related to VRG S.A. VRG S.A. has been dynamically developing its own retail sales network for years. As of the end of 2022, it had 534 stores with a total sales area of 52,000 square meters (including, among others, 142 Vistula brand stores, 107 Bytom brand stores, 152 W.KRUK brand stores, 105 Wólczanka boutiques, and 28 Deni Cler Milano stores). The dominant operational activity of the VRG S.A. Capital Group is currently associated with the development of the following brands: - Vistula: A brand operating in the Polish market since 1967, offering products for both men and women and combining timeless, classic wardrobe elements with fashion trends. - Bytom: A brand existing in the Polish market since 1945, offering men's fashion collections. - Wólczanka: A brand existing since 1948, appearing on the market as a boutique offering men's and women's shirts, including an exclusive line under the sub-brand Lambert. - W.KRUK: A brand representing traditional jewelry with a heritage dating back to 1840. The W.KRUK brand's offering includes jewelry and watches from renowned Swiss brands such as Rolex, Patek Philippe, Omega, Cartier, Jaeger-LeCoultre, Hublot, Panerai, Chopard, and Tag Heuer. - Deni Cler Milano: A brand originating from Milan, managed by the subsidiary company DCG S.A., offering luxury clothing for women.