Decathlon assets in Russia can be purchased by buyers of Russian stores Reebok and Zara
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Turkey’s FLO Retailing and Lebanese Azadea Group are in talks to buy French Decathlon assets in Russia, sources say. Vedomosti. They can buy stores and restart them in a franchising model. FLO Retailing previously bought the Russian business of the Reebok chain. The owner of Azadea Group, the Daher Group company, previously acquired the Russian business of the Spanish Inditex (Zara, Bershka, Pull & Bear stores).
Negotiations are underway with the Mullier family, which owns a holding that, in addition to Decathlon, includes Leroy Merlin and Auchan. According to the interlocutors of the newspaper, if the deal takes place, then not earlier than autumn. One source said that “Middle Eastern franchisees of the company” also came to see the Decathlon assets. He did not specify which ones. It is alleged that FLO Retailing and Azadea Group are considering two options for a deal: buy the entire network and restart the stores on a franchise model, or do the same, but with the closure of several outlets.
The amount of the transaction is unknown. General Director of Infoline-analytics Mikhail Burmistrov believes that the cost of rights to long-term lease of premises may be 3-4 billion rubles. The head of the department of capital markets and investments at IBC Real Estate, Mikael Kazaryan, estimated the property portfolio at 8-10 billion rubles.
Decathlon is the world’s largest manufacturer and retailer of sports goods. Suspended the work of 57 stores in the Russian Federation in March 2022, explaining this by sanctions imposed by Western countries. The revenue of the main legal entity in the Russian Federation, Oktoblu LLC, amounted to 15.3 billion rubles. in 2022 against 28.5 billion rubles. in 2021, a net loss of 7.6 billion rubles. against a profit of 1.4 billion rubles. a year earlier. In the property, according to IBC Real Estate, there are 26 objects with an area of more than 150 thousand square meters. m, including 25 hypermarkets and one warehouse. 16 stores, according to SPARK-Interfax, are leased. According to the interlocutor of Vedomosti, the maintenance of current assets cost the company about 1 billion rubles. after the suspension of work.
FLO Retailing operates shoe chains Flo, Sport in Street and the German brand Reno. Develops a number of franchise brands. In 2022, he bought Reebok assets in Russia and opened SneakerBox stores on the site. Azadea Group develops more than 40 international brands, including Decathlon, Adidas, Mango. It belongs to the Daher Group, which in 2022 bought the Russian assets of Inditex – 240 Zara, Bershka, Pull & Bear stores. Ecru, Dub and Maag opened in their place.
About the transactions of FLO Retailing and Daher Group – in the materials of Kommersant “Reebok sold in partnership” And “Zara will try on a replacement”.
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