Obuv Rossii and Absolut Bank, which have been cooperating since October 2014, have signed an agreement to open a renewable credit line for the Group for 500 million rubles until March 1 on 2017. The purpose of the loan agreement is to replenish working capital and finance the current activities of the Group. In the 1 half-year of the 2015 of the year, Obuv Rossii increased revenue by 1,5 times and doubled its net profit. In general, over the year the company plans to increase revenue by 15% - up to 9,3 billion rubles.
The partners hope that the joint work will have a positive result for both companies and the shoe market as a whole.