Government approves sale of Decathlon to franchise owner Mango

The Government Commission on Foreign Investments of the Russian Federation approved the sale of the Russian assets of the French network Decathlon to ARM, which owns the franchise of the Mango retailer in Russia, reported “Interfax” Deputy Minister of Industry and Trade Viktor Evtukhov.

“The buyer is the Russian company ARM, which also sells fashionable clothes and owns the Mango franchise. This deal has already been approved,” Mr. Yevtukhov said. He clarified that the deal was approved this week. According to the deputy head of the Ministry of Industry and Trade, ARM has committed to open all 35 Decathlon stores and provide about 1.4 thousand jobs.

The manufacturer and seller of sports goods Decathlon suspended work in the Russian Federation in March 2022, explaining this by sanctions imposed by Western countries. May 30 Vedomosti sources reportedthat the Turkish FLO Retailing and the Lebanese Azadea Group are negotiating the purchase of Decathlon’s Russian assets.

The Spanish retail chain Mango announced plans to sell its business in Russia in June last year. Later became knownthat Mango will transfer its stores in Russia to local franchisees.

Erdni Kagaltynov