One of Russia’s largest shoe retailers has confirmed positive momentum in the domestic footwear market, with a 2% rise in revenue to $72 million and a near-40% rise in profit for the first half of the year.
Obuv Rossii operates five footwear retail networks, the biggest of which is Westfalika, which sells leather and sheepskin shoes and operates 300 stores.

 

Anton Titov, CEO of Obuv Rossii Group, said: “Our improved financial performance also reflects the stabilisation of the footwear market; as the economy recovers, shoppers are returning to make shoe purchases they had previously deferred.”

He also commented that customers who during the crisis had shifted to buying low-price shoes are now returning to the mid-price segment as the economic situation improves.

“Our growth is a natural result of, even in a volatile market, investing in development, introducing new products and services and enhancing our operational efficiency,” said Mr Titov.
Obuv Rossii operates more than 500 shops in 140 cities

Facebook Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Fashion Footwear

Puma accused of defacing Indian heritage for shoe commercial

  Global sportswear giant Puma was accused Tuesday of irreversibly damaging 17th-century architecture in Delhi’s historic quarter as part of an advertising stunt to promote a new line of shoes. The facades of several buildings in Old Delhi Read more…

Footwear Industry

‘Footwear export to reach 4,219 million USD in 2019-2020’

Kanpur: Market and product diversification are the two areas where Indian Footwear industry is now giving more emphasis, said Mukhtarul Amin, chairman, Council for Leather Export (CLE) while discussing the status of Indian Footwear Industry Read more…

athletic

Jordan Brand Signs Uniform Partnership With French Basketball Federation

Jordan Brand will be designing the uniforms for France’s national basketball teams. As part of an agreement between Jordan Brand and the French Basketball Federation, Michael Jordan’s signature sportswear company will become the official uniform supplier for France’s national teams. Read more…