"Galatea-Varna" introduces innovative female cloths

Galatea-Varna is one of the companies in Bulgaria, which successfully passes through the transition period of the Bulgarian economy in the 90s and entered the new European economic dimensions of 21st century. The company is owned by a team of managers and employees, and without any foreign assistance has managed to find a niche in the European market of women’s and men’s clothing. Moreover, it manages to keep the authenticity of the last century by producing folk garments of all ethnic regions in the country. The combination of folk spirit and European freedom allows Galatea not only to survive in the challenging economic environment, but also to start investing in RnD and to create in 2014 an innovative product protected by the European document of copyright protection. The company is preparing a team of 30 experts who since 2015 have been working to prepare the product for mass production and to increase its market potential through many folk motifs and elements. This project will allow the company to implement the last stage of its plan by purchasing new equipment necessary for production of the innovative product. Galatea plans to purchase 23 different machines that cover the entire production process. The aim is the company to increase its capacity in RnD, as it starts producing the garments with market potential based on generation and transfer of knowledge. The innovative product is inspired by the long experience of Galatea in the production of Bulgarian national costumes and the knowledge that the company has gained through collaboration with leading manufacturers in Europe. The project’s comparative analysis shows that the modern fashion trends turn to the variety of shapes and colors of the Eastern-Europe folklore, and the demand for clothes with folk motifs and elements is rapidly increasing in Europe and North America. Moreover, the analysis reveals that currently the folk motifs appear only on shirts, tunics and jackets, but not on ladies’ coats.

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Overview

Status Closed (completion date)
Start date 18 Jan, 2017
End date 21 Jun, 2018
Contract date 18 Jan, 2017
View in UMIS

Beneficiary

Financial information

Total cost 347,104.81
Grant 312,394.34
Self finance 34,710.47
Total paid 312,394.34
EU participation percent 85.0%

Location