American clothing manufacturer Tommy Hilfiger’s stores could reopen in Russia from 2023, said Pavel Lyulin, vice president of the Union of Shopping Centers.
According to him, some points still operate without signage. It will not be difficult to rebrand and resume full-fledged work, Lyulin notes. He reminded that Tommy Hilfiger items are imported to Russia under a parallel import scheme, so prices in renovated stores will only be affected by inflation.
As the group of commercial real estate companies CRE+Retail explained to the TASS agency, the stores in the Aviapark shopping center already operate without signage. The remaining points could be opened before the end of the year, confirmed the group’s co-owner Natalya Kermedchieva. According to her, the stores will operate on a trial basis, taking products from distributors’ seasonal stock.
But to achieve high financial results, the chain will have to place a full order of collections, and this may not happen before spring.
“What may change in the assortment is that colleagues will take a more conservative purchasing approach and watch a couple of seasons to see how buyer behavior changes. But I don’t think there will be many changes,” Kermedchieva said.
In August, the owner of the Calvin Klein and Tommy Hilfiger brands, Phillips-Van Heusen Corporation (PVH), left the Russian business. Denis Shchukin became the new owner and general director of the local division, and the name of the structure was changed to Retail Excellence LLC.
Author:
Natalia Gormaleva
Source: RB
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