In 3Q Obuv Rossii Launched 20 Franchise Stores
Obuv Rossii Group, the first publicly traded company of the Russian fashion market, resumed the franchising program in the third quarter 2018. In July-September the Group launched 20 partner stores under the Lisette and S-TEP brands in the cities of Siberia and Ural. By the end of 3Q number of franchise stores totaled 133, now the whole retail chain of Obuv Rossii comprises more than 650 outlets.
«We considerably enhanced our retail chain for 9 months of this year. In our development strategy we prioritize launching of directly operated stores (DOS). At the same time, we develop a franchise program since it allows entering the regions where we are not presented yet and distant regions. — Anton Titov, CEO of Obuv Rossii Group comments. — We rolled out the franchise program in new format in 2017. We started to change the status of our wholesale partners with which we had cooperated for a long time into franchisee and offered them new format of cooperation. We broadened the list of brands for the franchise partners adding S-TEP, the active lifestyle brand. In 2017 we launched 39 stores; in 3Q 2018 we opened 20 more outlets».
In 2018 Obuv Rossii actively develops retail chain according to its investment program. By 20 August, the Group has already completed the stores roll-out program for this year having launched 100 DOS and decided to revise the program and to open 50 more stores till the end of 2018. In the nearest three years, Obuv Rossii plans to enhance its retail chain up to 1000 stores.