In 2017 Obuv Rossii Retail Network Will Grow by More Than 80 Stores
Novosibirsk, 13 December 2017: Obuv Rossii Group (MOEX: OBUV/ the “Company” and, together with its subsidiaries, “Obuv Rossii” or the “Group”), that held IPO on Moscow Exchange in October 2017, one of the two largest footwear retailers in Russia and the leader in the mid-price segment of the Russian footwear market*, that includes 533 stores in more than 140 cities of Russia and two production facilities, announces the results of retail chain expansion in October-November 2017.
Increase in the retail network within two months accounts to 12 new own stores. Obuv Rossii launched new retail outlets in the regions of network presence. In December the Company intends to open 6 more stores, mainly under the Westfalika brand. As a result, by the end of the year, the retail network of Obuv Rossii will include 537 stores, 424 of them – own retail outlets (as of 30 Sept. 2017, Obuv Rossii operated 519 stores.). Total retail network increase for the year will be more than 80 stores.
«The Company implements the expansion programme announced in IPO. We intend to further maintain high growth rate. Our key tasks are to expand our retail chain, launch new stores and demonstrate strong financial performance. We will continue to strengthen our leadership in the mid-price segment of the Russian footwear market and improve the quality of the shopping experience as well as customer loyalty”.
Russian shoe market is poorly consolidated: according to Discovery Research Group, by the end of first six months of 2017 the share of TOP-10 players of Russian shoe market was just 14.19% in the volume terms. Moreover, during the crisis, some small local shoe networks withdrew from the market. That is why it is a good time to expand the business, increase the share in presence regions and enter new cities.
|Index||30 Sept. 2017||30 Nov. 2017||31 Dec.2017 (plan)|
|Number of stores||519||531||537|
|Sales area, DOS (thousand sq.m.)||38,9||40,5||
*In terms of the number of stores and revenue for the six months of 2017, according to Discovery Research Group