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The River Island stores close in Russia



World renowned brands Esprit and River Island can leave the Russian market at an early date.
The Russian company Maratex Fashion Retail Company, developing franchised brands in Russia, is massively closing stores due to the losses.

The Polish EM&F Group is a major shareholder of Maratex company. As of the end of 2013, Group lost about 1.6 billion euro due to the currency instability in Russia and Ukraine. In the beginning of 2014, Group announced about its intention to wind up franchised projects in the clothing retail.

The Maratex company, also developing OVS, Bodique, Orsay and Peacocks store brands, managed a network of over 60 stores in the biggest cities of the country and held 25th place among Russian fashion retailers according to Euromonitor. It may even happen that the company will be dissolved in the near future. 
River Island stores Moscow
As for the British River Island, market insiders expect the brand to operate in the Russian market independently. As of today, the company’s official website features 5 stores located in the best shopping malls of Moscow – Evropeisky SEC, Metropolis, Okhotnyi Riad, Mega Belaya Dacha and Mega Teply Stan, and one in Saint Petersburg.

The Maratex Fashion Retail Company started its cooperation with British brand River Island at the end of 2010 when the first mono-brand store was opened at Galereya SEC in Saint Petersburg. The brand has also been developing in Ukraine since 2011. As of today, there are two stores in Kiev. 

Related shopping malls and stores:

More about shopping malls in Russia



DAY BEFORE YESTERDAY, China:
Louis Vuitton continues to look for new growth opportunities in Asian markets.
Nov 24, 2022, Australia:
French luxury retailer is opening its first airport store in Southern Hemisphere.
Nov 24, 2022, USA:
We want to make people look good and feel good, we want you to feel sexy and have fun doing it.
Nov 23, 2022, Singapore:
The flagship store of the new format appeared in Singapore.
Nov 22, 2022, Japan:
The store is located on Omotesando Avenue, one of the most prestigious locations of the Japanese capital.
Nov 21, 2022, United Kingdom:
The closures are part of the group's global cost-cutting strategy.
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