Debenhams to expand into Russia
Debenhams is to open its first store in Russia as it looks benefit from rising consumer spending in the country.
Working with franchise partner Debruss, the department store chain is planning to open a 35,000 sq ft store at the Mega Belaya Dacha shopping centre in September. It will also open at least seven more stores in Russia over the next five years as it looks to double the number of franchise stores in new and emerging markets.
Debenhams International’s senior business manager, Lucy Haine, said: "Russia is a key market. The sales densities per square foot are significantly higher than Europe."
The retailer currently operates 167 stores in the UK, Ireland and Denmark, and 61 franchise stores in 24 countries around the world.
Russia is Europe’s second biggest retail market with sales of £400 billion in 2011.
The Retail Bulletin’s International Expansion Summit 2012, sponsored by GfK, was held this week and attended by leading retailers and solution providers. The theme of the day was Driving sales and market share, mitigating risk and strengthening your business through international multichannel growth strategies. Speakers were from Debenhams, Tesco, New Look, Coast, WHSmith, Carphone Warehouse Group, Wiggle, JD Williams, Hamleys Group, TUI Travel, French Connection, GfK, Javelin Group, Field Fisher Waterhouse LLP, Chase Paymentech and OBAN.
If you were unable to attend, but would like to view the speaker presentations video, click here and we will email further details.
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