Latvian bistro chain sets up third shop in Tallinn

Latvia's Lido bistro chain has invested EUR 1.2 million in its new eatery which opened at Mustamae shopping center in Tallinn last week, the company's management board chair Rita Auzina told LETA newswire Monday.

She indicated that in less than a year Lido increased its turnover in Estonia by nearly 55 percent year-on-year since it opened a restaurant at Ulemiste shopping center in March 2015. The number of Lido clients in Estonia also grew by nearly 40 percent last year.

"Expansion in Tallinn is going as planned. Since it has not been even a year since the opening of the restaurant in Ulemiste, it is too early to comment on long-term results, but the first results indicate that Estonians appreciate our concept.

In Estonia, food service trends are quite similar to those in Latvia, so we know the challenges we have to ready to deal with, and we are prepared to work to become a clear leader also in Estonia," said Auzina.

The Latvian bistro chain Lido opened its third bistro in Tallinn at the Mustamae shopping center on February 12, LETA was informed by the company.

Lido already operated two other bistros in Tallinn at the Solaris and Ulemiste shopping centers.

Lido opened its first restaurant in Tallinn in 2009 and another one in March 2015. The company plans to launch operations in Germany this spring.

Lido currently runs nine restaurants in Latvia, and three in Tallinn.

The company also operates a food production base, beer brewery, confectionery, and a shop-cafe, Kirsons, in Riga.

It was founded in 1991. Its share capital is EUR 927,427. Gunars Kirsons, the founder, owner and long-standing head of Lido is the chairman of the supervisory board.

Even though during the economic downturn Lido was on the verge of going out of business, it was granted out-of-court legal protection and subsequently became the first Latvian company from which the status was lifted after it returned to profitability and full solvency.

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