The United Capital Partners fund intends to increase its share in the Monarch footwear retail chain from 36% to 80%. The deal will concern 80 stores, represented only in Ukraine, where the network is developed by the company "Monarch Retail Ukraine". In Russia, the fund owns a 36% stake in the business, the Kommersant newspaper reports. As stated in the UCP fund, the company's share of the Russian business will remain the same for now.
The UCP Fund became a co-owner of Monarch two years ago, having bought out 36% of the company. Then the retailer planned to significantly expand the network, both in Russia and on the Ukrainian market. According to the plans announced then, by 2014 the Monarch chain was supposed to increase to 400 stores (from 170). However, as the newspaper writes, referring to experts, instead of the declared growth, the brand network in Russia has almost halved. At the same time, the Ukrainian branch of "Monarch" demonstrates the growth of the network.
Monarch is a footwear retail chain in the middle and lower middle price segments in Russia and Ukraine. The brand portfolio includes the brands Monarch, ElitebyMonarch, Kaiser, Good Shoes and Wildcat. The company is the exclusive distributor of American brands Steve Madden and Naturalizer.