Popular Serbian brand goes bankrupt

The popular brand Ivica i Majica announced bankruptcy on its official Facebook page yesterday. On their social networks, they shared a video where they wrote that their business had ended. “The End of a Fairytale”, says the description.

The store which is located in the city center is covered in stickers saying “bankruptcy”.

Vladimir Niciforovic, the company’s owner, briefly commented for Blic Biznis that the biggest reason why the company’s operations had ended was a change in trends.

– The trends have changed, plenty has changed, the operations have become passive, which is why we have made this decision – Vladimir commented briefly.

As for the future of online sales in Serbia, he adds that he still believes in it and believes that it is certainly the future, that is, that it will become the primary form of commerce.

The assumption is that this local brand as well will have to reform its business model.

Ivica i Majica doo Beograd

Ivica i Majica

Vladimir Nićiforović

bankruptcy