Telemax Expanding in Moscow
Saint Petersburg electronics and household appliances chain, Telemax is expanding in Moscow with its third store in the capital slated for the retail and entertainment Center on Lobnenskaya, currently under development near Petrovsko-Razumovskaya metro station. Swiss Realty Group, consultant on the project, announced Telemax owner, ABS Electronics signed a lease for 2,000 sq. m.
ABS Electronics development director Andrey Mamonov said “All in all, we are planning to open from 18 to 20 retail outlets in the capital. We are not afraid of competition and hope to win the Muscovites’ confidence, although this won’t be easy”, he said.
The main rivals of Telemax are M.Video, Eldorado, Tekhnosila and Mir.
According to Natalya Galenko, financial director of Center on Lobnenskaya, the main advantage of the retail and entertainment center is its location within a residential district. “Our company studied the local residents’ preferences to alter the project’s concept accordingly”, Ms. Galenko said.
The five-floor retail and entertainment center will total 28,400 sq. m of floor area. The first floor of the center will host clothing and household goods stores, the second floor is reserved for a food court, beauty parlors and sporting goods stores, the third will be occupied by a bowling alley, billiards, a children’s playroom and a restaurant. The basement will contain a food supermarket, an Internet cafÎ and central service facilities. The center will also have an underground parking garage with 143 spaces and a surface car park with 212 spaces along the perimeter. The estimated total volume of investments in the project is $30 million. The tender for the center’s brand development, corporate image and promotion was won by British company Minale MasterBrand.
First Fashion Mart Opens in Moscow
The first of a new chain of ‘brand names for less’ clothing stores opened in the Marino suburb in the south east of Moscow. Fashion Mart, founded earlier this year by John Ortega and Jeff Combs, have extended their clothing wholesale company into the retail market. The chain has other stores planned for Moscow, Mitino, Rostov na Donu and the regional town of Yaroslavl.
The stores are modeled after the successful Clothestime Stores in the USA which Mr. Ortega built up to 578 stores nationwide while taking the company public in 1983.
The opening of the Marino store on September 7th was marked by a fleet of pink Chaika limousines ferrying customers from the Metro to the store entrance.
Marks & Spencer Expanding
British department store Marks & Spencer is opening four more stores this Autumn bringing to six the number of stores in Russia operated by the Turkish franchisee FIBA Group company; Marka Magazacilik A.S. which operates 50 M&S outlets in Turkey. Two stores have been operating in the Moscow area; in Mega Teply Stan and the Festival Shopping Centre, near Yugo Zapadnaya Metro Station.
By the end of September, a dedicated M&S man’s store was expected to be operating in Mega Teply Stan with other general stores following in the Evropa Complex, adjacent to the Kievskaya Mainline Station in mid-October; the new Mega at Kottelniki by the end of October and in Mega Khimki in November.
The company has plans to roll the brand out across Russia.