The federal footwear company Obuv Rossii, one of the five largest footwear retailers in the country, has signed a loan agreement with Bank Intesa. According to the agreement, a credit line with a limit of 150 million rubles for a period of up to one and a half years is being opened for the company. Director of Obuv Rossii Group of Companies Anton Titov said that the funds raised will be used to replenish working capital and to implement the retail network development program in 2013.
Thus, this year Obuv Rossii will increase investments in the development of the retail network by 2,5 times, that is, up to 700 million rubles, and will open 60 stores. Most of the new outlets will be open before the start of the fall-winter season.