The Ministry of Industry and Trade predicted the opening of Decathlon stores before the end of the year

After a change of ownership, Decathlon stores may open in Russia before the end of the year, reported at the Eastern Economic Forum (WEF) Deputy Head of the Ministry of Industry and Trade Viktor Evtukhov.

He recalled that the deal was approved several months ago by the government commission for control of foreign investment, and the obligatory contribution to the budget had already been paid. “I think that stores will open before the end of this year,” told Evtukhov in an interview with the Rossiya-24 TV channel.

Another international sports brand, Adidas, has not yet provided information about a potential buyer. “They have about 100 stores. Adidas, as I understand it, has decided to sell its products through multi-brand sales points,” Evtukhov clarified, emphasizing that companies have been keeping information about partners secret for a long time. He added that Russian authorities are waiting for specific applications from the company in order to make a decision.

According to Evtukhov, many foreign companies that have left would like to return to Russia; there are no obstacles to this. When concluding agreements for the sale of Russian businesses, many include a clause on the possibility of a subsequent buyback in order to return to the local market. However, the legal commission agrees on a return period of no more than two years.

On July 21, Evtukhov said that the government commission approved the sale of the Russian Decathlon chain, which includes 36 facilities. The buyer is the ARM company. A Vedomosti source close to the retailer toldthat outlets in Decathlon’s place will open in October – November, the company has already begun recruiting staff, says a source close to the retailer. According to him, it is unknown whether the chain will retain its name, but the profile – sporting goods – will remain the same.

In the spring of 2022, there were 57 Decathlon stores in Russia. Against the backdrop of the start of a special operation in Ukraine, the chain of stores suspended supplies to the Russian Federation, and on June 27, it completely closed all stores in the country “for an indefinite period.” The company’s plans to sell its assets in Russia became known in January 2023.