Shareholder of Russian Fitness Group launches Fashion Galaxy shoe store chain
26.07.2011 10634

Shareholder of Russian Fitness Group launches Fashion Galaxy shoe store chain

The shareholder of the Russian Fitness Group (World Class network, Fizkult) Maxim Ignatiev launches a network of Fashion Galaxy shoe stores. They will sell shoes of brands Ed Hardy, UGG Australia, Carvela - it is imported into Russia by the businessman’s own distribution company.

The first Fashion Galaxy store with an area of ​​250 sq. m will open in August in the shopping center "European" in Moscow, explained M. Ignatiev. The representative of the "European" confirmed this information. Next year, according to the businessman, it is planned to open three more stores of the same name. Their range will include products from Ed Hardy, UGG Australia, Kurt Geiger, Carvela, Repetto France, Mystique and DAV, which average $ 150-450 per pair. Exclusive deliveries of these shoes to Russia are carried out by Fashion Galaxy’s own company M. Ignatieff, whose turnover in 2012 should be about $ 30 million. These shoes are currently being purchased by the Rendez-Vous chain, as well as by the Mercury group (including TsUM) and Bosco di Ciliegi (GUM and others).

According to Mr. Ignatiev, investments in the opening of four stores will amount to about $ 2 million. The vice-president of Econika Sergey Sarkisov believes that it will be more expensive - from $ 700 thousand to $ 800 thousand to one store, taking into account the formation of inventories. Renting in such shopping centers as Evropeisky is very expensive due to its leadership in consumer traffic - over $ 4 thousand per 1 sq. m per year, warns one of the tenants.

Maxim Ignatiev became a co-owner of the Russian Fitness Group in 2007, when this company, founded by Olga Slutsker, merged with his P-Fitness, managing the MaxiSport network (before rebranding - Reebok). At the same time, he tried his hand at clothing retail: he opened the Debenhams department store together with the RID Group on Krasnaya Presnya in 2006, but lasted less than two years. Since 2010 of the year, he opened a franchise store UGG Australia in Moscow GUM and three Kurt Geiger.

“The brands Galaxy Fashion supplies have already gained fame in Moscow, where there is a steady demand for products in their price segment,” says Andrei Tsirer, CEO of Rosconsultproject research company. “Selling through our own stores will increase the margin of the shoe business from 40-60% to 200%.” According to Euromonitor, in 2010 the volume of the Russian footwear market amounted to $ 18,9 billion, and in 2011 it will increase by 15,5% to $ 21,8 billion. The largest market operators last year were Centrobuv with a share of 3,8%, Adidas with 2,4%, Nike with 1,4% and Econika with 0,5%. According to the prospectus issued by Obuv Rossii for a bonded loan, in total sales, the average price segment of the market (3-7 thousand rubles, or $ 108-253 per pair) in 2011-2012 will increase to the level of 2009 from 30 to 35 %, upper price segment (more than 7 thousand rubles, or more than $ 253) - from 5 to 6%. About this newspaper Kommersant.

The shareholder of the Russian Fitness Group (World Class network, Fizkult) Maxim Ignatiev launches a network of Fashion Galaxy shoe stores.

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