Gloria Jeans aims to reduce clothing and footwear prices by up to 30%. This was announced by the retailer’s commercial director, Almaz Akhmetzyanov, at the Mallpic exhibition, RIA Novosti reports.
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“In some age groups we will return prices to the level of 2022, in others to the level of 2023. In terms of costs, we will be below average,” said the senior manager.
The company also plans to “bring back the product for which tens of millions of customers across Russia have been coming to Gloria Jeans stores for 30 years,” Akhmetzyanov added. According to him, several measures have already been taken: for example, previously the retailer artificially reduced the proportion of children’s clothing, but “now this mistake has been corrected.” “Everything will be different in the first quarter,” said the director.
Gloria Jeans is one of the largest Russian clothing and footwear manufacturers. According to its own data at the end of June 2023, the company had almost 700 stores in more than 300 cities in Russia and more than 15 thousand employees.
In 2023, the company’s revenue amounted to 78 billion rubles, an increase of 11% compared to 2022. Gloria Jeans’ net profit last year increased to 9.6 billion rubles, Interfax wrote in reference to the retailer’s press service.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
