Kari development
The shoe business of the former owner of Eldorado is gaining momentum
The shoe business of the former owner of the Eldorado retail chain, Igor Yakovlev, is gaining momentum. As it became known, over the past month and a half, the businessman opened Xari KX stores in Russia, Poland, Ukraine and Kazakhstan, and by the end of the year the network should grow more than three times
The first 10 Kari shoe stores opened in Poland in June, Mr Yakovlev said. Today there are six points in Ukraine, five in Kazakhstan and 59 in Russia (including two in Moscow). 75% of the assortment - women's shoes, the remaining 25% - men's and accessories. The average check per pair is $ 20. Shoes are sewn to order in China.
The network is actively looking for staff. Job search sites (hh.ru, joblab.ru, job-mo.ru, etc.) report dozens of vacancies at LLC Kari (management company), from store directors to cashiers. The business is developing more actively than I expected, Yakovlev shares, by the end of the year at least 260 points will be open. Investments before the end of the year - $ 150 million; this, according to Yakovlev, is his own means. Kari's presentation states that by the end of 2014, 1000 stores will be open. Yakovlev estimates the business margin at 15% on EBITDA.
Kari selects shops for 200-300 sq. m, knows Boris Matza from Cushman & Wakefield (Yakovlev's retail property consultants). “Moreover, they choose only the best centers and the highest quality sites. This is the policy of the new brand - it needs to be in full view all the time, ”he says. Opening 260 stores by the end of the year is quite real, Matz says: “Experienced logistics and development specialists from Eldorado joined the Kari team with existing relationships with landlords, which helps us quickly enter the project.” LLC “Kari” is headed by Valentin Dmitriev, ex-financial director of Eldorado Ukraine, and all regional directors have moved from Eldorado, Yakovlev confirmed.
Yakovlev is the creator of the largest Russian electronic retailer Eldorado. In 2009, he gave control of the company for debts: 50% plus 1 share went to the Czech PPF Group and its structures, the deal also included development projects of the businessman Advantage Group and Real Estate Development. Since July 2011, PPF has controlled 100% Eldorado.
Shoe experts do not believe in the success of Yakovlev. Unlike the home appliance market, in which Yakovlev has achieved success, the seasonality of sales plays a very high role on the shoe market and such a thing as fashion is pointed out by the general director of the shoe union Natalya Demidova. About this newspaper Vedomosti.
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