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Shareholder of Russian Fitness Group launches Fashion Galaxy shoe store chain
26.07.2011 10809

Shareholder of Russian Fitness Group launches Fashion Galaxy shoe store chain

Maxim Ignatiev, a shareholder of the Russian Fitness Group (World Class, Fizkult), launches Fashion Galaxy shoe stores. They will sell footwear brands Ed Hardy, UGG Australia, Carvela - it is imported to 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 Evropeyskiy shopping center in Moscow, explained M. Ignatiev. The representative of "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 cost an average of $ 150-450 per pair. The exclusive supply of these shoes to Russia is handled by M. Ignatiev's own company Fashion Galaxy, 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. Vice-President of Econika Sergey Sarkisov believes that it will come out more expensive - from $ 700 thousand to $ 800 thousand per store, taking into account the formation of commodity stocks. Renting in shopping centers such as Evropeyskiy is very expensive due to its leading positions in consumer traffic - over $ 4 per sq. M. 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 R-Fitness, which manages 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 existed for less than two years. Since 2010, he has opened a UGG Australia franchise store in Moscow's GUM and three Kurt Geigers.

“The brands supplied by Fashion Galaxy have already gained prominence in Moscow, where there is a steady demand for products in their price segment,” says Andrey Tsirer, general director of the Rosconsultproekt research company. “Selling through our own stores will increase the marginality 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 Tsentrobuv 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 to the bonded loan, in total sales the mid-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% , high-price segment (over 7 thousand rubles, or over $ 253) - from 5 to 6%. The newspaper Kommersant writes about this.

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