NOVOSIBIRSK, Russia--(BUSINESS WIRE)--Obuv Rossii Group (MOEX: OBUV), the first publicly traded company in the Russian fashion retail, summarizes the results of its retail chain development in 1H 2019. During the reporting period, the Group continued launching new stores all over Russia. The net growth of the retail chain amounted to 105 directly operated stores. As of 30.06.2019, the Group comprised 837 stores (including 166 franchising ones) in 320 cities and towns of Russia.
«In 2018 we improved the retail management system, created enlarged regional divisions. Due to new organizational structure, we may monthly open 30 or 40 stores on regular basis. — Anton Titov, CEO of Obuv Rossii Group, comments. — We have analyzed the promising regions for retail chain rollout and determined more than 400 cities and towns for stores launching in the nearest 2 or 3 years, most of them are small towns of 50 to 100 ths. citizens. In such settlements capital expenditures, rent rates and promotion expenses are lower, the level of competition is not high and there is a big demand for high-quality footwear and services. In 2019 we plan to launch 150 new stores».
In 1H, Obuv Rossii significantly enhanced its footprint entering 92 new cities and towns. The company is developing the retail network all over the country; most new stores were opened in Siberia — 42%. The Group also strengthened its positions in Urals, Far East and Volga Region — 20%, 18% and 17% of all openings for the period, 2% of new sales outlets were located in Northwestern Federal District. In line with its strategy, the Company primarily launched new stores in street format — 91%, 9% of new stores started operation in shopping malls. Regarding the rollout by brands, in 1H Obuv Rossii prioritized the main brand Westfalika — 99.3%. The total selling space of DOS increased by 9% from 53.8 to 58.6 ths. sqm.
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.