Rental rates will translate into rubles
31.08.2015 3222

Rental rates will translate into rubles

The Ministry of Industry and Trade has prepared a bill prohibiting the setting of rental rates for retailers in foreign currency. 

 "In many ways, large shopping centers and street retail representatives nominate rental contracts for non-residential premises in foreign currency, while the entire chain of settlements to the end user is made in rubles. Risks from currency rate fluctuations fall entirely on tenants. In our opinion, this is unfair and is a rudiment 1990s, "- said the Deputy Minister of Industry and Trade Viktor Evtukhov.

According to him, the amendments are now undergoing the procedure of approval and discussion. The new bill was created for the benefit of retailers. "The destabilization of the ruble has turned into problems for industry participants, often threatening bankruptcy. Whereas previously companies had rental costs of 15-20% of revenue, after the denomination they doubled and began to reach 20-40%."

The authors of the bill suggest that foreign investors may oppose the legislative initiative, as this will prevent them from making and planning investments.

The Ministry of Industry and Trade has prepared a bill prohibiting the setting of rental rates for retailers in foreign ...

Latest News

Clarks to cut 150 more jobs

Due to growing losses, the British shoe manufacturer Clarks intends to reduce staff. A reduction of 150 office jobs is planned. Clarks closed 2023 positions in 103, writes...
24.06.2024 125

Expo Riva Schuh attracted more than 9000 visitors

In the Italian Riva del Garda, from June 15 to 18, the 101st exhibition of shoes, bags and accessories Expo Riva Schuh & Gardabags was held. The exhibition featured 1300 exhibitors from 40 countries (80% came from abroad). Event…
23.06.2024 174

Golden Goose postpones IPO

Permira-backed luxury sneaker company Golden Goose has decided to delay its IPO due to political uncertainty in Europe. The start of trading was supposed to take place on June 21, writes...
21.06.2024 408

EKONIKA launched an advertising campaign in support of its new collection

EKONIKA invited fashion influencer, founder of the Komisstore resale platform, fashionista and socialite Oksana Rim to the advertising campaign of its new Premium collection. “The union of strictness and relaxation,” this is how it describes...
21.06.2024 474

Camper x Sunnei created sneakers with symmetrical half-pairs

The Forone sneakers, created in collaboration between the Spanish shoe brand Camper and the Italian fashion brand for men and women Sunnei, are suitable for any…
20.06.2024 524
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning