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Former co-owners of the Lenta hypermarket chain engaged in shoe retail
09.04.2012 10020

Former co-owners of the Lenta hypermarket chain engaged in shoe retail

Former co-owners of the Lenta hypermarket chain August Meyer and Dmitry Kostygin went into shoe retail: for about $ 25 million they bought 40% of the Obuv.com shoe network, which consists of of 60 shops. On those money investors expect to increase the network at four times for coming two years, but in total in shoe business will invest up to $ 100 million.
Aboutthat August Meyer and Dmitry Kostygin bought 40% shares in LLC “Shoes Com” (a chain of Obuv.com stores), said co-owner of the chain Sergey Rukin. He specifiedthat investors bought an additional issue of shares. Mr. Kostygin confirmed this information. The transaction amount exceeded $ 25 million, but in total in shoe project ex-co-owners "Lenta" are ready to invest up to $ 100 million, he added.
Obuv.com was launched about two years ago and now combines 60 shoe stores throughout the of Russia with average area of ​​230 sq. m. Works in low price segment, the average check is approximately 1 thousand rubles. Network revenue in 2011 year amounted 700 million rubles. ($ 23,8 million on average the course for 2011 year).
Investor money will go to expand network, says Mr. Rukin. By the end this year she can grow to 100 shops and in 2013 year - to 250 outlets taking into account franchising. Company revenue in it year should increase to 1,5 bn. Rub. ($ 51 million at the rate Central Bank for today).
August Meyer and Dmitry Kostygin came out from stock Capital "Tapes" (42 Hypermarket) in August 2011 year. For two investors owned about 42% of the network, which they sold to investment funds TPG Capital, EBRD and VTB Capital for $ 1 billion. According to the results 2010 of the year “Tape” was the sixth by revenue grocery retailer in RussiaThe network control is now owned by TPG.
The shoe market, whose turnover According to Euromonitor compiled in 2011 year $ 21,8 billion, in the last time attracts investors and experienced retailers from others segments. In January last year, United Capital Partners (UCP), controlled by ex-president Deutsche UFG Ilya Scherbovich, acquired 36% of the holding "Monarch" (produces and sells shoes under the brands Monarch, Wildcat, Kaiser and good Shoes, is a distributor of American brands Steve Madden and naturalizer). And from the beginning this year the founder of one of the largest in Russia networks of household appliances "Eldorado" Igor Yakovlev creates from scratch network of inexpensive shoe stores Kari in Russia, Poland, Kazakhstan and in Ukraine. Only to end 2012 of the year should be open 150 outlets. Businessman is ready to invest at launch the project is about $ 150 million.
Now the largest shoe retailer is Tsentrobuv (more than 800 Tsentrobuv stores and centro) - it occupies 4,3% of the market, at the rate Synovate Comcon. Second and the third players are Mattino (0,8% of the market and more 140 stores) and Unicel (0,8% and more 320 stores) respectively. “Even having one or two extremely strong players don't interfere appear to the third. We want create a quality product, place on the market there is one for this, ”explains Dmitry Kostygin. Share “Centrobuv” so far not this way great and it is possible to fight for leadershipadds Sergey Rukin.
For Dmitry Kostygin and Augustus Meyer Obuv.com - this is the second project launched after the sale of Lenta. In February businessmen began to search for land for the construction of small wholesale complexes under the Enel brand, which will become analogues of Costco American stores and Sam's Club. On the first stage into the creation the network must be invested up to $ 250 million. For four it is planned to open about 30 stores. About it writes the newspaper Kommersant.

Former co-owners of the Lenta hypermarket chain August Meyer and Dmitry Kostygin went into shoe retail: for about $ 25 million they bought 40% of the Obuv.com shoe chain, consisting of 60 stores. On…
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