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Intertop Russia
10.07.2012 2601

Intertop Russia

Intertop, the largest shoe retail operator in Ukraine, enters the Russian market. As it became known, the company already has a representative office in the country, and by the end of the year it expects to open the first five stores there. The Russian market is several times larger than the Ukrainian one, and, unlike the latter, shows sales growth. However, in Russia, “Intertop” is deprived of one of the advantages that it has in its home market - exclusive rights to sell shoes under the Ecco and Geox brands, market participants say.

The plans for the Intertop network regarding access to Russia were told on condition of anonymity by a source at MTI (managed by Intertop). According to the interlocutor, a representative office of the company is already operating in Russia. MTI Group President Vladimir Tsoi confirmed that the company has plans for development in Russia. “But we will not comment on them before the opening of the first stores,” he said.

By the end of the year, Intertop plans to open five stores in the Russian Federation, said Alexandra Chirkaeva, deputy director of the retail space department of the consulting company Jones Lang LaSalle (searches for space for the company) in Russia. Intertop is now actively looking for retail space. And not only in Moscow, but also in the regions, for example, Krasnodar. The company is interested in renting stores with an area of ​​450-600 sq. m (Ukrainian shops have about the same) in shopping centers, ”she added. Space for Intertop is also sought by the Russian office of Colliers International. “They have ambitious plans - the company expects to build a network in the Russian Federation that is comparable in size to their business in Ukraine,” said Galina Maliborskaya, director of the Colliers retail property department in Russia.

In Ukraine, MTI is already a leader in shoe retail, says co-owner of the Maratex network (developing OVS, Esprit, Aldo, River Island networks in Ukraine and Russia) Dmitry Ermolenko. The company has been operating in the shoe market since the 1993 of the year and unites more than 250 stores under the signs of Intertop, Kidditop, Plato, Ecco, Geox, Clarks, Marc O`Polo, Timberland, Vagabond, Skechers, Camper, Braska and others. Intertop is well represented in Kiev and regional centers. Entering the regional markets of Ukraine in the current conditions is unprofitable, ”said Mr. Ermolenko.

Entering Russia is the correct decision of the company, the shoe market there is several times larger in volume than the Ukrainian one, and is recovering faster after the crisis, says Dmitry Ermolenko. According to his estimates, in the first half of the year, the growth in sales on the footwear market of the Russian Federation on average did not exceed 6% compared to the first half of the 2011 year, and according to the results of the year, the research company Euromonitor International predicts that the growth should amount to 17%, up to $ 25,5 billion. In Ukraine, the market capacity is estimated much more modest - $ 1,78 billion in the 2010 year (Euromonitor did not make a forecast for this year). “In Ukraine, depending on the sales segment, according to the results of the first half of the year, they did not grow or even fell by 5%,” the expert said.

However, in Russia, Intertop is deprived of one of its advantages that it enjoys in its home market. Strong positions in the Ukrainian market of the company were ensured, in particular, by exclusive contracts for the sale of Ecco, Geox and other shoes, explains Andrey Makarov, deputy general manager of the Ultra chain of stores. In Russia, the right to sell Ecco shoes, in particular, is now owned by EKKO-ROS. Now the network has 185 stores. About this newspaper Kommersant.

Intertop, the largest shoe retail operator in Ukraine, enters the Russian market. As it became known, the company already has a representative office in the country, and by the end of the year it expects to open there ...
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