The Korean Cinema Chain CGV Enters Russia



South Korea's largest chain will be the first foreign cinema operator in the country.
Korean network of cinemas CJ CGV, the fifth largest player in the international market, will appear in Russia. Partner of the company for development in the Russian Federation will be ADG Group. The joint venture created by the Korean and Russian sides will receive 33 cinemas in Moscow.

The Korean Cinema Chain CGV Enters Russia

In the created JV 70% will belong to CJ CGV, 30% - to ADG. The authorized capital of the joint venture is 30 million dollars. In total, the company will receive about 160 screens in 33 theaters by renting premises for fifteen years. All the multiplexes will work under the brand CGV. The opening of the project should take place no later than 2020.

Russia has the world's 14th largest cinema market taking up 1.9 percent of the world box office in 2016.

"This is an important step in expanding the territory of CJ CGV as Russia is a major base to enter Europe in the long term," said Seo Jung, chief executive officer of CJ CGV. "We'll make efforts to spread Korea's advanced multiplex theaters and increase the world's awareness of the superiority of Korean movies and culture."

CGV will be the first international network to operate in Russia. To date, the company operates more than 3 thousand rooms. Russia will become the seventh country of presence for CGV, for now, it's cover China, the United States, Vietnam, Indonesia, Myanmar, and Turkey. The company actively invests in international markets; it plans to grow to 10 thousand screens by 2020.

More about shopping malls in Russia



YESTERDAY, USA:
One of the oldest department store chains in the U.S. planned the Thanksgiving procession with the coronavirus in mind.
YESTERDAY, Netherlands:
Amsterdam The Style Outlets opens with high occupancy and a curated mix of brands.
DAY BEFORE YESTERDAY, United Kingdom:
The British Debenhams network, which operates 124 department stores, is going through some bad times.
DAY BEFORE YESTERDAY, USA:
Free master classes, the standard for Apple stores during the holiday period, are being held this year in an online format.
DAY BEFORE YESTERDAY, USA:
Shopping malls offer visitors an opportunity to interact with brands whose products are sold online only.
DAY BEFORE YESTERDAY, China:
Chinese retailer, known for a vast number of fast opening stores, is actively exploring European markets.
Friend
and Follow
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us