Grupo Cortefiel continues its ambitious international expansion plan in Russia where it plans to have 200 stores by 2016.
This is one of the Group’s growth strategic markets, along with China and Mexico, and the third in terms of revenue, after Spain and Portugal. Grupo Cortefiel’s plans in this market have been officially unveiled in Moscow.
“Russia is a key market for us and will remain so. Our sales confirm this and we expect them to growth in double digits in 2014 and to continue to see an increase of the interest in our brands. We believe there is much potential for growth,” says Juan Carlos Escribano, Grupo Cortefiel CEO. Also, online sales will begin in September 2014, to reach across the country.
Since last March, Grupo Cortefiel consolidates its presence in the country through direct management of its 67 stores, 31 of Springfield and 36 of women'secret, previously operated as franchises.
"The strategic plan includes the opening of 50 new stores in Moscow and St. Petersburg and openings in the rest of the country in various formulas, to triple the current number. "The importance of Russian tourism in Spain, with more than 1 million tourists a year, has given a lot of visibility to our brands," confirms Escribano.
The event in Moscow, held at the Embassy of Spain, was chaired by the Ambassador D. Jose Ignacio Carbajal de Garate, and was attended by personalities from the world of Russian fashion, the business community and Russian and Spanish authorities and institutions.