Gloria Jeans will open a store on the site of the H&M flagship on Tverskaya

Retailer Gloria Jeans will take the place of the departed H&M on Tverskaya Street in Moscow. The company won a tender to open a store in the Akter Gallery complex, informs TASS, citing a source in the commercial real estate market.

The information was also confirmed by Gloria Jeans and NF Group (former Knight Frank Russia, consultant on the deal). The amount of the agreement is not specified. According to the interlocutor of the agency, the opening of the Russian retailer’s store is scheduled for spring.

RBC with a link to the company’s message writesthat the new Gloria Jeans store will be located on three floors and will occupy an area of ​​​​about 5000 square meters. m. The point will be the largest in the retailer’s network. According to the chairman of the board of directors of the company, Vladimir Melnikov, the competition for the opportunity to open a store in this place was huge.

One of the contenders for opening a store in the Akter Gallery complex was the Stockmann chain of stores. About negotiating a lease informed December 6, CEO of the retailer Gennady Levkin. He noted that if the deal is concluded, the volume of investments will amount to at least 100 million rubles.

As of the end of 2022, Gloria Jeans had 675 stores in more than 300 cities in Russia, Belarus and Kazakhstan. The retailer opened about a dozen stores last year on the former grounds of departed overseas retailers, mostly replacing H&M. Gloria Jeans Revenue in 2022 amounted to 70 billion rubles

H&M closed 185 Russian stores in March 2022. In August, the company temporarily reopened most of its stores for sales ahead of its final exit from both Russia and Belarus. On December 5, all H&M stores in Russia closed permanently.