Jamilco wants to buy Victoria’s Secret franchisees in Russia
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Jamilco, a clothing and footwear distributor, has filed a petition with the Federal Antimonopoly Service to acquire Monex Trading, which develops the Mothercare and Victoria’s Secret brands under a franchise system. The service announced this in its Telegram channel.
“The service will assess the impact of the transaction on the Russian market of wholesale and retail trade in non-food products in the prescribed manner,” the FAS added.
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.
At the end of October, Kommersant learned that Jamilko plans to buy out the Russian business of the British network Mothercare. Companies can transfer the rights to lease stores and unsold merchandise.
The network of children’s goods Mothercare left the Russian market in March of this year, said due to the military operation in Ukraine. At the same time, the work of 120 brand stores and online sales was suspended. Russia accounted for about 20-25% of the retailer’s global retail sales, the company noted.
More details – in the material “Kommersant” “Mothercare will be taken care of in Russia”.
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