Individual companies for manufacturing and trading operations will be set up as well as a real estate management company. UAB Audimas Supply will perform outsourced manufacturing, while UAB Audimas Brand will run the brand business. Legal procedures are to be completed during the period of June-October 2021. UAB Audimas Supply will be headed by Inga Dumbliauskienė, while UAB Audimas brand will be managed by Hardy Schulz. The company’s CEO, Eglė Gruodienė, will remain in her post until 1 June 2021.
Preparations began for this step back in 2019 when operations were streamlined and leadership teams reinforced. The businesses have effectively been operating independently for some time now so the legal separation will further improve their efficiency, speed, and teams’ motivation to pursue ambitious growth goals.
“Over the past two years, we’ve assembled strong leadership teams in both businesses; we have been intensively developing our e-commerce trade channel, strengthening our outsourced manufacturing client base, increasing our manufacturing capacities, and significantly improving the company’s financial results. The challenges presented by the COVID-19 pandemic were also handled exceptionally well. We are very grateful to Eglė Gruodienė for the work she has done and the excellent results she’s achieved as CEO. Eglė Gruodienė will continue to work directly with the company’s board on important strategic projects,” says Šarūnas Šiugžda, Audimas’ chairman of the board.
The parent company AB Audimas will focus on finance, information systems, human resources, property management, and other activities.
As of 1 June 2021, Inga Dumbliauskienė, who has been leading the manufacturing development section for the past two years, will take the reins of UAB Audimas Supply, developing the business further. I. Dumbliauskienė is an experienced leader with a proven track record in companies such as UAB FC Herning Baltic, UAB Protex Invest Baltic, and others.
Having started as Executive Brand Director in June 2020, Hardy Schulz will continue to lead the brand business UAB Audimas Brand. H. Schulz’s extensive experience working with brands such as Esprit, C&A, and Takko Fashion will be a great asset in expanding the business into new markets.
About the company:
AB Audimas is the only sportswear and activewear brand in Lithuania. It has been operating in the sports clothing manufacturing business since 1931.
Currently, the company employs 365 people. The planned structural changes will not have any impact on the number of employees. In 2020 Audimas’ annual turnover reached almost 23 million euro, with net revenue of 2.05 million euro.
Sixteen directly-owned and franchise stores operate across Lithuania, and the e-retail platform www.audimas.lt is growing rapidly. The company designs and manufactures clothing under its own brand as well as offering design and manufacturing services for premium category sports clothing to some of the biggest European and global sports and activewear brands.
The private capital investment management company LitCapital, Rimvydas Povilaitis, Arvydas Povilaitis, and Ona Balžekienė hold a combined 92% of the company’s shares.
