Jamilco acquires Mothercare and Victoria’s Secret franchisees in Russia
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Jamilco, a clothing and footwear distributor, received 99.99% of Monex Trading, which develops the Mothercare and Victoria’s Secret brands under the franchising system. Changes in the structure of owners took place yesterday, November 22, Interfax reports, citing data from the ERGUL.
Another 0.01%, according to the agency, was received by the legal entity Losford Trading Ltd, registered in Cyprus, which is the founder of Jamilco.
The Jamilko company was founded in 1993, its main owner is Khaled Jamil. The company is a distributor of New Balance, Kiko, DKNY, Timberland, Wolford, Juicy Couture, Wrangler, Lee, Escada brands. Manages more than 150 stores in Moscow, St. Petersburg, Yekaterinburg, Sochi and Rostov-on-Don and develops a dealer network. The revenue of IFC Jamilko JSC for 2021 amounted to 11.2 billion rubles, net profit – 1.2 billion rubles.
Monex Trading is owned by the Kuwaiti Alshaya Group. The franchisee’s revenue in 2021 amounted to 12.9 billion rubles, and the loss was 243 million rubles.
In March, after the entry of Russian troops into Ukraine, the Mothercare children’s goods chain suspended the work of 120 brand stores and online sales in Russia. At the end of October, Kommersant learned that Jamilko plans to buy out the Russian business of the British network Mothercare. November 16 Jamilco filed petition to the Federal Antimonopoly Service for the acquisition of Monex Trading.
More details – in the material “Kommersant” “Mothercare will be taken care of in Russia”.
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