The German brand Adidas will abandon some stores in Russia to optimize costs
German sportswear and footwear maker Adidas has begun phasing out some of its stores in Russia. It is reported “News” with reference to Nadezhda Tsvetkova, head of CORE.XP retail space leasing.
We are talking about informal stores and outlets that are weak in terms of turnover, the specialist explained. It is known that in total the brand develops about 800 stores in the country. At the same time, how many of them can completely close is not specified at the moment.
According to Pavel Lyulin, vice-president of the Union of Shopping Centers, such cost optimization is a logical management decision for a company that has not yet made a final decision to leave or, on the contrary, resume its activities in the Russian market.
In March, retailer Adidas suspended activities in the country along with other sportswear brands such as Nike and Puma. The owner of the domestic clothing brand Yamal, in turn, declaredthat is ready to occupy the vacant niche.