new Maag stores may not open until 2024 – Kommersant
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Dubai-based Fashion And More Management DMCC, the owner of Maag, Ecru, Dub and Vilet clothing stores, which opened on the site of Zara, Bershka, Pull & Bear and Stradivarius who left Russia, has paused the opening of new stores. The company wants to evaluate sales in its brand stores at the end of 2023 and only then make a decision to expand the network. The newspaper reported “News” with reference to one of the commercial real estate brokers.
Now in the new stores Maag, Ecru, Dub and Vilet there are difficulties with logistics, which threatens with low turnover, Izvestia writes. According to the broker, by the beginning of 2024, the retailer will sell several seasonal collections, “and it will be clear what turnover and profit brands are going to.”
Nadezhda Tsvetkova, director and head of CORE.XP retail space leasing, confirmed that now the retailer is not considering new sites for opening stores, but is analyzing the work of existing outlets. According to her, despite the large number of negative reviews on the collections and their quality, many stores showed good sales immediately after the launch.
Maag, Ecru, Dub and Vilet stores opened in Russia at former Zara, Bershka, Pull & Bear and Stradivarius locations in May 2023. The Spanish Inditex, which previously owned these areas, suspended work in Russia in March 2022, and a year later decided to permanently close 269 out of 514 stores in Russia.
More details – in the material “Kommersant FM” “Maag is greeted by clothes”.
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