The retail chain of shoe stores and accessories ZENDEN announced the transition to rubles in settlements with Turkish suppliers.
The retailer made this decision back in the winter, and in mine all the partner factories signed an agreement, according to which pricing and foreign economic settlements will be carried out in Russian currency through DenizBank, a subsidiary of Sberbank of the Russian Federation.
“The transition to rubles in settlements with Turkish partners is not only savings on currency conversion, but also direct participation in strengthening the domestic economy. Such steps will increase the competitiveness of the national currency and create additional demand for rubles, as well as reduce capital outflow. Many reproach importers for “undermining domestic production” and “driving the economy into currency dependence,” ZENDEN in fact demonstrates the possibility of combining national interests with the interests of a private importing company, ”says ZENDEN President Andrei Pavlov.
According to the concluded contracts, starting from the summer of 2015, supplies of men's and women's shoes for the retail chain will be carried out. The terms and conditions of the contracts have not yet been specified.