Sorainen has advised Decathlon on its entrance into Lithuania and the Baltics.
According to Sorainen, Decathlon "is the first tenant in VNO Verslo ir Prekybos Parkas – a commercial project developed in southern Vilnius. The first Decathlon store in the Baltics is planned to open in autumn 2018. The store is expected to occupy an area of 5000 square meters and the project also offers the possibility to expand by an additional 1000 square meters."
Explains Nicolas Fogola, manager of Decathlon Lithuania: “We see Decathlon not only as a shop, but also as a space where one can try all kinds of sports goods from a fishing rod to a tent. One of the main goals of the company is to engage as many people as possible in different sports activities, and for that a lot of space is needed. Also, there will be a playing field outside the shop where both our employees and our visitors will engage in sports activities. VPH has provided everything that was needed in line with our brand values and requirements. Now, as we have already found a place, we can concentrate on implementing the project.”
According to Sorainen, "last year Decathlon achieved EUR 10 billion in sales revenue, which was mostly powered by growth in foreign countries. In France (301 stores) sales grew by 2.2% and amounted to EUR 3.3 billion. In foreign countries sales grew by 12% and amounted to EUR 6.7 billion. Currently, the retail chain owns 1,176 stores in 28 countries."
Sorainen advised the client on all issues related to establishing a company in Lithuania, leasing new premises, and tax questions. The firm's team consisted of Partner Saule Dagilyte and Associate Karolis Kunigelis.