Obuv Rossii Group of Companies has consolidated its assets and created OJSC OR with an authorized capital of 7 billion rubles.
The new legal entity became the parent company of the group and the owner of other companies within the group: Pedestrian LLC, Obuvrus LLC, Westfalika-M LLC and Obuv Rossii LLC. Previously, their sole owner was Anton Titov, General Director of Obuv Rossii GC.
“The goal of creating the OJSC is to increase the transparency of the group’s business in connection with the implementation of a five-year investment program worth 6 billion rubles, plans to place exchange-traded bonds and attract investments in the equity market,” the company noted.
The board of directors of OR includes five representatives of Shoe of Russia: A. Titov, financial director Elena Ageeva, commercial director Yulia Donina, human resources director Svetlana Belova, chief designer Thomas Frank, and two independent directors - executive director of the regional network of clothing stores "Lemon" Marianna Kadaeva and director of the Novosibirsk Technological Institute (a branch of Moscow State University of Design and Technology) Peter Karabanov.
A. Titov remained the main shareholder of the company, several top managers of the group became minority shareholders.
According to the SPARK-Interfax database, OR OJSC was registered on 12 on August 2013 of the year, A. Titov owns 96,38%, and E. Ageeva and Yu. Donina own 1,81%.
The official report of Obuzhrus says that A. Titov contributed 100% of Obuzhrus LLC with the nominal and market value of 939 million rubles to his charter capital of OJSC OR.
In accordance with the five-year investment program adopted in April of 2013 in April, Obuv Rossii intends to open 100 stores a year and plans to increase the retail chain by 2018 times to 3,5 outlets, and revenue by 650 times to 5,5 billion rubles . Financing will be carried out at the expense of own and borrowed funds. In May 18,5 of the year, the Moscow Exchange admitted to the trading exchange bonds of the group in the amount of 2013 billion rubles. The first issue is scheduled for 5 year.
Obuv Rossii GK is a multidisciplinary holding company, one of the five largest shoe companies in Russia. The group develops areas of shoe retail, shoe production, wholesale and franchising. The head office and production are located in Novosibirsk, the factory capacity is 350 thousand pairs of shoes per year. The company is also building a shoe factory in Cherkessk, with an investment of 1,4 billion rubles; commissioning is scheduled for 2014.
In the first half of 2013, the company increased its RAS net profit by 2,6 times compared to the same period last year - up to 203 million rubles. Revenues increased 1,9 times to 1,95 billion rubles.