Crocs retail has resumed work in Russia
The American shoe brand Crocs remains on the Russian market. The brand's retail management and interaction with the franchisee were transferred under the new structure of Claire LLC, which was owned by the former head of the Russian division of Crocs, Eric Petit. A number of brand stores have already opened after the shutdown in March, Kommersant writes.
Claire LLC was established in May 2022, the main owner of the company is Eric Petit with a share of 85%, another 15% belongs to Evgeny Tregubenko, a co-owner of the legal RT-Group, which accompanies M&A transactions in Russia for foreign investors.
The transfer of business to top management is the second most popular way for foreign companies to leave Russia, according to a study by Oks Labs. At the end of July, out of more than 50 closed deals, management acted as a buyer in about 30% of cases.
The brand's stores in the Afimall shopping center and the Metropolis shopping center have already resumed work. It is reported that the resumption of the work of the online store of the brand in Russia is not planned, the products will be delivered to other online platforms.
Crocs was founded by Lyndon Hanson and George Baedeker Jr. in 2002 in Florida (USA). In 2021, the company's global revenue grew by 67%, to $2,3 billion. The network has been present in the Russian Federation since 2008. According to Yandex.Maps, today there are about 85 outlets operating under the Crocs sign, including franchises. The revenue of Crox CIA in 2021 increased by 54%, to 4,63 billion rubles, net profit increased 2,2 times, to 1,48 billion rubles. In the reporting for the second quarter of 2022, Crocs estimated losses from closing a business in Russia at $5,8 million.
The American shoe brand Crocs remains on the Russian market. The retail management of the brand and interaction with the franchisee were transferred under the new structure of Claire LLC, which was owned by the former head ...
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