The Russian footwear and accessories chain Ekonika has acquired a 5% stake in the business of clothing retailer 2Mood (Two Moods). This acquisition means that the shoe retailer has decided to try its hand at the new fashion market, Vedomosti writes.
The deal on the acquisition of a share in the 2 Mood clothing business by Econiki operating company Esperance LLC was closed in early September, according to SPARK-Interfax data. General Director of Esperance LLC Aleko Iliopoulo confirmed that his company became a strategic partner of the brand and added that due to this investment, it gets the opportunity to develop in a segment in which Ekonika has not yet been represented.
Shoe retail "Ekonika" was founded in 1992 and today is represented by 130 stores in Russia and the CIS countries.