Inventive Retail Group tripled store opening plans
Inventive Retail Group tripled store opening plans
In 2014, Inventive Retail Group opened 59 stores and hoped to maintain the pace of expansion in 2015 at the same level.
“We planned to move at a fairly stable pace, but now we are reducing them. In 2015, we plan to open 20 to 30 stores, ”said Tikhon Smykov, CEO of the company.
In addition, the company expects a slowdown in revenue growth in rubles for the year. According to Smykov, the growth rate in rubles at the end of the year may be more than 20% compared to 46% last year.
“People buy substantially less. Prices have risen, the dynamics of demand in ruble terms is quite positive, but the quantitative indicators have dropped quite dramatically, ”Smykov noted.
Let us remind you that Inventive Retail Group was founded in 2005 and is part of Georgy Gens' Lanit IT holding. Among other things, the group develops in Russia 17 Nike brand stores, 10 Prenatal Milano clothing outlets, 3 UNOde50 jewelry stores and 2 Street Beat shoe stores. At the end of 2014, retail sales of Inventive Retail Group reached RUB 25,88 billion (including VAT).
Inventive Retail Group expects a slowdown in sales growth in 2015 and plans to reduce the number of store openings in 2015 by two to three times due to unfavorable macroeconomic ...
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