Sportswear and sports equipment stores Adidas and Reebok return to the Russian market under the guise of ASP. The first will be open until December 10 at the Belaya Dacha outlet in Moscow. The network is launched by the distributor of foreign products Lestate.
The number of stores under the ASP brand is still being discussed, the expansion of the retail network will be gradual, said Ilya Komissarov, head of the marketing department at Lestate.
- In March 2022, Adidas announced the suspension of operations in Russia and the temporary closure of retail stores. In the fall, the company decided to limit its business in the country.
- In the third quarter of 2022, the brand lost 100 million euros due to the suspension of operations in Russia. At the end of the second quarter, the company also recorded losses of 100 million euros for the same reason.
- In May, the German manufacturer planned to sell its business in Russia to a foreign investor; In June, the Turkish company FLO Retailing and the Middle East Daher group were negotiating the purchase of the Russian chain Adidas.
- In October 2023, the rights to sublease the Adidas chain in Russia were acquired by the structure of the owner of Stockmann and Lamoda, Yakov Panchenko. It was then reported that the first stores of the new brand would open in Moscow in the spring of 2024. The assortment will remain the same, but prices may increase “up to 20%.”
- The Reebok business in Russia has been owned by Turkish holding company Flo Retailing since May. According to Kommersant, 100 brand stores have passed to the new owner. The company has not operated in Russia since the end of March 2022.
Author:
Karina Pardaeva
Source: RB
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