The shoe chain Zenden plans to close more than 50 points of sale. This is stated in the retailer’s official statement on its Telegram channel. Stores are closing due to high interest rates and exchange rate risks, the report explains.
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The closure of stores is not a marketing campaign, but the rest of the products are sold in operating stores with discounts of up to 90%, explained a representative of the chain.
In November, law enforcement officers raided the office of footwear retailer Zenden, as well as the warehouses of companies that investigators believe were affiliated with the company’s owner, Andrei Pavlov*, RBC reported.
Zenden’s legal entity, Dom Clothes LLC, achieved revenue of 14.7 billion rubles and net profit of 572 million rubles in 2023. Andrey Pavlov* owns 96% of the company, another 3% from CEO Alexander Sarychev and 1% from Pavel Chaltsev.
Zenden’s website states that the chain operates more than 250 stores and opens at least 60 new ones each year. In February 2023, TASS, citing Sarychev, reported that the chain had 245 stores by the end of 2022, planned to open 50 stores in 2023 and another 100 in 2024, bringing its number to 395.
Author:
Ekaterina Strukova
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.
