The Russian Fashion Retail Market - Igedo Company

the opening of its MEGA MALLS in Samara and Ufa, where constructions are
almost finished but approvals for specific security and technical installations get
delayed since months by the competent authorities of both cities. As it also
became known, IKEA faces problems to agree with building contractors on the
terms of construction for the fourth MEGA MALL in Moscow, close to the Mytishi
subway station.
3.15. BOSCO DI CILIEGI likely to sell 45 per cent of stake to GUM
August 26, 2010, malls.ru
Mikhail Kuznirovich, owner of a controlling stake in BOSCO DI CILIEGI, the
Russian luxury retailer, may sell 45 per cent of his shares in Bosco to JSC GUM
TRADING HOUSE, a company operating GUM SHOPPING MALL, in which
Kuznirovich also holds a majority stake. The deal involves 392.000 shares valued
at RUR 5,5 bn (€ 141 mn /US $ 184 mn). Bosco DI CILIEGI operates around 100
luxury fashion stores in Russia for top brands like ETRO; KENZO; MAX MARA;
MOSCHINO; HUGO BOSS; LA PERLA; ICEBERG; PAUL SMITH; BARBARA BUI and
others including shopping malls like GUM; PETROVSKY PASSAGE; VESNA
SHOPPING CENTER; NOVINSKY PASSAGE in Moscow and mono-brand stores in St.
Petersburg, Samara, Ekaterinburg,, Novosibirsk and Milan (Italy). Other retail
assets of Bosco include ARTICOLI, a perfumery and cosmetics chain, beauty
salons under ARTICOLI SALON SPA; DIOR BEAUTY INSTITUTE, cafes and
restaurants, a dental clinic and a pharmacy. The reason behind this financial
transaction is seen by experts as an attempt to provide cash for Bosco to finance
the chain of OLYMPIC stores together with sourcing and production of OLYMPIC
clothing for which the company took responsibility two years ago in its role to act
as a main sponsor for the Olympic Winter Games in Sochi 2014. Behind
Kuznirovich stands Alpha-Bank, the largest privately held Russian commercial
bank in which he is a minority shareholder.
3.16. MARKS & SPENCER anchors at GAGARINSKY MALL in Moscow
August 30, 2010, malls.ru
British clothing retailer MARKS & SPENCER signed a lease contract with Jones
Lang LaSalle, exclusive brokers for the new upcoming shopping and entertainment
center GAGARINSKY, being under construction on Vavilova Street in Moscow. The
store will comprise 1.310 square meters of a total retail reserved area of 70.000
square meters. According to Jones Lang LaSalle anchor tenants of the new
complex are AUCHAN on 24.000 square meters, SPORTMASTER on 5.300 square
meters, DETSKIY MIR; LADY & GENTELMAN; MANGO; ETAM; ACCESSORIZE;
INTIMISSIMI; CALZEDONIA; ADIDAS; REEBOK; LEVI'S; LEE; WRANGLER;
CROCUS FASHION; NICE CONNECTION; GLORIA JEANS and many other medium
priced brands. Investor in GAGARINSKY is a joint venture between French Auchan
and a Moscow based Machine Tool Plant named Ordzhomikidze, which is quite an
unusal alliance for Russia.
4) Shopping Mall Development
4.1. Shopping Center JUNE opened in Cherepovets, North-West-Region
July 6, 2010, mallhouse.ru
JSC REGION DEVELOPMENT opened its third shopping and entertainment complex
under the name of JUNE in Cherepovets, one of the largest towns in the North-
West region of Russia. This city has a population of 311,869. The center is the
first venue of its kind in Cherepovets. The grand total of the centre comprises
46.000 square meters providing a retail area of 30.000 square meters. Anchor
tenants are LENTA, the Russian grocery hypermarket chain (5.800 m²), seven
cinemas on 2.800 square meters and M.VIDEO, a large Russian retail chain of
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