Stockmann may take over as H&M’s flagship store in Moscow
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Stockmann is considering leasing space at the Actor Gallery complex on Tverskaya in Moscow, where the H&M flagship store used to be. Gennady Levkin, CEO of the network, told TASS about this. He clarified that negotiations are already underway with the landlord.
“Yes, we want to open (department store.— “b”). A good place, we are waiting for the decision of the landlord,” said Mr. Levkin. He clarified that if the lease deal is agreed upon, then the volume of investments could be at least 100 million rubles.
The Russian Council of Shopping Centers said that several large retailers are negotiating with Aktor’s Gallery. It is not yet clear which of them will occupy the space of the former H&M store.
H&M suspended sales in Russia in early March. In mid-July, the company began winding down its activities in the country and opened stores to sell off the remaining goods. H&M plans completely withdraw from Russia before the end of the year. On site H&M planned open stores of Russian brands.
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