Obuv Rossii Opened Over 70 Stores in 1H 2018
NOVOSIBIRSK, Russia--(BUSINESS WIRE)--Jul 10, 2018--Obuv Rossii Group (MOEX: OBUV/ hereinafter the “Company” or, together with its subsidiary and dependent companies, “Obuv Rossii” or the “Group”), the first publicly traded company in the Russian fashion retail, summarizes the results of its retail chain development in the first half of 2018. The Group opened 71 own stores in 61 cities all over Russia within the first six months, mainly under the Westfalika brand (51 stores). As a result, the Obuv Rossii chain has grown by 13.3%, counting 606 stores (including 113 franchising stores) in 180 towns in Russia as of 30 June 2018.
“We are consistent in the implementation of the chain development program for this year. According to this program, 100 new sales outlets have to be opened. We are even ahead of the schedule. Initially, we planned to launch 60 stores during the first six months of the year, but we have exceeded the target by 20% and have opened 71 stores. It will allow us to fully implement the 2018 development program by already the autumn-winter season,” says Anton Titov, CEO of Obuv Rossii Group. “It became possible because it is favourable time for expanding retail chain, and there is a big choice of good sites for stores in regions. In addition, Russian shoe market is not consolidated well, which is why the opportunities to strengthen our positions in regions and to increase our market share are good”.
The Group has significantly expanded its sales territory and has entered 27 new towns. The biggest number of stores was opened by Obuv Rossii in June — 20 new sales outlets began to operate in this month. The Company launched new stores all over the country, the biggest share of opened stores fell on Siberia — 48%, on the Urals and Central Russia — by 22%, on the Far East — 7%. Obuv Rossii develops all five retail chains of the Group: it opened 51 Westfalika stores, by 7 — Lisette and Peshekhod stores, by 3 — Emilia Estra and Rossita stores.
About OBUV ROSSII ( http://obuvrus.com )
Obuv Rossii Group is a federal retail shoe chain, the first publicly traded company in the Russian fashion retail. Obuv Rossii was established in 2003, it is headquartered in Novosibirsk with a representative office in Moscow.
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CONTACT: Obuv Rossii Group
KEYWORD: EUROPE RUSSIA
INDUSTRY KEYWORD: DEPARTMENT STORES PROFESSIONAL SERVICES FINANCE RETAIL FASHION OTHER RETAIL
SOURCE: Obuv Rossii Group
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PUB: 07/10/2018 04:36 AM/DISC: 07/10/2018 04:36 AM