Restart of Adidas stores in Russia may happen in the spring
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Adidas stores may open in Russia in the spring of 2024 under a new name. This was announced by the head of the new brands department at the Union of Shopping Centers, co-owner of REC + retail group Natalia Kermedchieva, transmits TASS.
According to her, the rights to sublease Adidas stores were bought by the structure of the owner of Stockmann and Lamoda, Yakov Panchenko. “This is not a completely pure purchase of a business, they did not buy a legal entity, they will continue to work in the same way and do wholesale on their own,” Kermedchieva noted.
She added that the new name for Adidas stores will be “neutral.” Kermedchieva clarified that the opening of the updated points will begin in Moscow. According to her, dozens of Adidas stores will be relaunched in 2024. Their assortment will remain the same, but prices may increase by up to 20%, Kermedchieva said.
In August Lamoda reported about plans to launch its own retail chain of sportswear stores in 2023. The company clarified that some of the stores will open on the site of former Adidas outlets. In total, the retailer plans to open about 300 stores in more than 20 cities of Russia, by the end of 2023 – about 50 points.
Adidas stores suspended operations in Russia in March 2022. At the end of 2022, Adidas LLC rented 153 premises for stores, including the former flagship store in Moscow on Kuznetsky Most (a Henderson flagship store opened there in the spring). Last year, the revenue of the Russian structure amounted to 24.97 billion rubles, falling by 55% year-on-year. In the reporting of the parent company for 2022, losses from the winding down of the Russian business are estimated at approximately 250 million euros.
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