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Q1 growth for Russian footwear group

27/04/2018
Q1 growth for Russian footwear group
Russian footwear group Obuv Rossii has reported an increase in revenue of 6.1% for the first quarter of 2018, reaching $34 million. In the course of the three-month period, it opened 34 new stores in 30 different Russian cities. It now has a total of 569 stores, including 113 run by franchise partners, in 163 cities.

On releasing the results, chief executive, Anton Titov, commented: “In 2018, the Russian shoe market has maintained positive dynamics and demand is gradually growing. Consumer preferences change and customers are buying more stylish, interesting leather footwear.”

Image credit: Obuv Rossii.

Related stories:

Obuv Rossii raises $100 million from second IPO 25/10/2017
Obuv Rossii aims to raise $136 million from IPO 11/10/2017
Obuv Rossii to float on Moscow Stock Exchange 27/09/2017

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