VRG S.A. has been listed on the Warsaw Stock Exchange since 1993. The VRG S.A. Capital Group specializes in the design and distribution of high-quality fashion collections for men and women, as well as luxury jewelry and watches. It owns some of the most prestigious fashion and jewelry brands on the Polish market, including Vistula, Bytom, Wólczanka, Deni Cler Milano, W.KRUK, and Lilou.The VRG S.A. Capital Group focuses on brand management, clothing and jewelry design, and the development of its own retail network in both core segments (fashion and jewelry). The Group’s operations also extend to foreign markets — the W.KRUK brand is present, among others, in Hungary, where it ranks among the leading jewelry brands.
The current profile of the VRG S.A. Capital Group has been shaped by an intensive process of mergers, acquisitions, and restructuring carried out over recent years. VRG S.A. has acquired and created new fashion brands, refreshed the image of its most recognizable proprietary brands, and strengthened its market position through the promising jewelry segment. The development process included a merger with the listed company Wólczanka S.A. in 2006, gaining control over the listed company W.KRUK S.A., and indirectly over DCG S.A. in 2008, followed by a formal merger through the acquisition of the assets of W.KRUK S.A. in December 2008. Subsequently, the jewelry business was separated into a subsidiary, W.KRUK S.A., headquartered in Kraków, through a contribution in kind of an organized part of the enterprise. Another stage of this strategy was the merger with the listed company Bytom S.A., formally completed in November 2018. In January 2026, W.KRUK S.A. and its subsidiary WK SPV 1 Sp. z o.o. finalized the acquisition of the Lilou Group.
As a result of these intensive activities, VRG S.A. has built a capital group bringing together well-known Polish brands operating in the fashion, jewelry, and luxury goods markets.
Since 2000, VRG S.A. has been implementing the vision of a “House of Brands,” in which each brand is given space for individual development, maintains its identity and independence, while focusing on building customer trust and positive emotions.
The VRG S.A. Capital Group has been dynamically developing its own retail sales network for many years. At the end of 2025, it comprised 478 stores with a total retail space of 49 thousand square meters (including, among others: 99 Vistula brand stores, 81 Bytom brand stores, 67 Wólczanka brand boutiques, 9 multibrand stores offering the Vistula, Bytom and Wólczanka brands, 28 Deni Cler Milano brand stores, and 194 W.KRUK brand stores). The Lilou brand, which joined the Group’s brand portfolio in January 2026, operated 49 stores at the end of 2025.
The dominant operational activity of the VRG S.A. Capital Group is currently related to the development of the following brands: