Obuv Rossii GK opened a credit line at Absolut Bank for 1 billion rubles. Funds will also go towards the development of the group’s retail network, the number of stores of which should increase by 150 of new outlets by the end of this year.
The Bank opened a line of credit to the Group in the amount of 1 billion rubles for the period until October 2022 for replenishment of working capital and financing of the current activities of the company.
Obuv Rossii is developing dynamically as part of the previously announced investment program, comments Anton Titov, director of Obuv Rossii GC. - In the first half of 2019, the group opened 110 stores and entered the 92 of new cities; The company's revenue increased by 19,3% to 5,36 billion rubles. The group also shows growth in other areas of business: online sales of Shoe of Russia for the first six months increased by 23%; comparable revenue from cash lending activities - by 27%. The plans for this year further develop the retail network, IT infrastructure, services for customers and introduce new technologies into production. In total, the company plans to launch 150 new outlets this year. ”
AKB Absolut Bank (PJSC) founded in 1993 year. The main shareholder is the Public Joint-Stock Company “United Credit Systems” (part of the structure of the Non-State Pension Fund “Welfare”). The Bank is represented in the largest economically developed regions, specializes in working in segments with a high level of expertise: mortgages, car loans and SMEs in digital format, corporate business, including system servicing of Russian Railways holding companies, as well as complex solutions in private banking.
GC "Shoes of Russia" founded in 2003 year, has a headquarters in Novosibirsk and an office in Moscow. Engaged in the production and sale of footwear and related products. The company operates 863 stores (171 operates under a franchise) under the brands Westfalika, Pedestrian, Rossita, Emilia Estra and Lisette, and also develops shoes and clothing brands for an active lifestyle S-tep, all.go and Snow Guard and owns two shoe stores factories in the Novosibirsk region.
The group’s revenue in 2018 amounted to 11,55 billion rubles, net profit - 1,33 billion rubles, EBITDA - 2,86 billion rubles.
 As of 08.08.2019