LT: Pigu.lt revenues in Lithuania up by 61% y/y in 2011.

By bne IntelliNews January 17, 2012
Online retailer Pigu.lt recorded revenues of LTL 38.8mn (EUR 11.2mn) in 2011, up by 61% y/y. The company indicates that including its revenues in Latvia total company revenues in 2011 amounted to LTL 56.9mn in 2011. The company plans to grow revenues to LTL 79.8mn in 2011. In 2011 total of buyers purchasing on the online retailers stood at 96,000, which indicates twofold y/y increase. Dainius Liulys, chairman of the board, indicated that 2011 was the breaking point for the company, as it has become profitable and moved from the investment to development stage. The company operates Pigu.lt online store in Lithuania, and has acquired Latvian leading online retailer 220.lv.

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