Will you give your opinion on this analysis of the Jitex Case Study of the Czech Republic?

In 1990 the collapse of the Soviet Union affected the world in many different ways. One of these ways was the retails markets located in and around the former U.S.S.R. This collapse brought many new and uncertain questions as to what would happen to retail. One of these companies that was majorly affected was the company Jitendra. Jiltex was the largest knitted textile in the Czech Republic in the early 1990s. Mites employed over 3000 people, and held 10 factories. Annually they sold 20 million pieces of apparel, which contained 42 million in sales, these specific numbers being from 1993. Before the collapse of the U.S.S.R Centrotex handled all of Jitex's exports. In 1993 this number was down to half. This was because before the collapse all exports were controlled by the state. After the collapse however Jitendra needed to learn, and learn quick how to handle it themselves. Jitendra at first had trouble with the new demands needed from them with marketing, and sales. By 1993 Jitex had employed 7 different domestic sales reps. This same year Jitex partnered with Kmart and they became Jitex's largest domestic customer. With all this newfound territory privatization plans were considered for Jitex. THe plan was proposed in 1993 by the directors in Jitex, and the plan was quickly approved by the Ministry of Privatization in 1994. Part of this plan were three major investment banks. THese being Invesicni Banka, Ceskoslovenska Obchodui Banka, and Investicpu Spolecnost Ceske Sporitely. These specific banks were chosen for 3 major factors. The first of these factors is that at least one of the three banks is a member of the stock market, and therefore is able to sell stocks. THe second reason is that all 3 banks can give credit to Jitex. Lastly is that Centrotrex can continue to control exports and maintain export stability. Jitex also implemented a slew of marketing strategies to stay afloat. In 1993 Miroslav Bezecny (Jitex General Director) listed 3 important issues that Jitex needed to confront going forward. The first problem was to prepare the "right: styles for collections. Secondly, to grow their customer base and market to a broad range of people. Thirdly, to direct contact with customers with more intimate sales and marketing plans. To help with product development Jitex hired a German firm called Lisa-Desgin. This firms main goal was to design a fashion line for the German market under the OCHRE fashion label. Jitex also purchased new technology to help with manufacturing. These technologies included CAD programs to help with designs, embroidery machines, among others. Jitex wanted to make sure that they stayed competitive with Eastern markets. This increase in production and quality led to more credibility in their respective markets. To help break into the Western markets Jitex also doubled its collection from 1992 to 1993. Another major issue for item was the lack of recognizability outside of its domestic market. This was mainly due to the control that the U.S.S.R had over retail at the time. To help build a bigger brand name they began to hold large fashions shows to advertise their pieces. They also began to promote their brand through shows, magazines, and newspaper advertisements. All in all Jitex did a good job at staying afloat through such an earth shattering event. They did well in diversifying their collection, as well as their marketing portfolio. Jitex was able to set themselves up for a successful future not only in their domestic markets but foreign ones as well.