Postalmarket relaunches and looks to Eastern Europe

Postalmarket, the Italian catalogue company is back in business following more than two years of bankruptcy protection and its acquisition by Italian budget clothing retailer Bernardi, and is looking to Eastern Europe for growth.

Peschiera Borromeo-based Postalmarket, which sells clothing for men, women and children as well as accessories, home furnishings and electronic appliances through catalogues, the television and the internet, has recently launched its first catalogue under new ownership. The small catalogue will be followed by a 400 page one in January. In the same month, the company will launch a catalogue in the Czech Republic, Slovakia and Bulgaria as part of its expansion plans in Eastern Europe.

Ronchis-based Bernardi, which is reported to recently have made a bid to buy 150 domestic and international stores of insolvent Italian sporting goods Giacomelli, acquired Postalmarket in August for ? 40m. Bernardi operates 150 stores in Italy and in 2002 reached a turnover of ? 200m. In 2003, turnover is expected to amount to ? 220m.