Europe

Ikea Centres Russia signs international brands in Moscow

Ikea Centres Russia, part of Ikea Centres Group, has signed four international brands, including Armani Exchange to open in its Moscow shopping centres this year.

The group has signed a total of 5,200 sq ft across two shopping centres in the Russian capital with the four new brands.

As well as Armani Exchange, which is set to take 2,100 sq ft in April, the group has signed L’Oréal’s NYX cosmetic chain and lingerie brand’s Hunkemöller and Undiz set to open this summer.

The new leases represent a move towards higher-end, luxury brands as the centres target a more middle to upper class retailer.

Olga Shevtsova, commercial director of Ikea Centres Russia said: “In our Moscow and St Petersburg centres we can welcome more premium brands now. Moscow is the market where purchasing power is the highest so we are starting there first. But in the future we will look to roll the more luxury brands out to other cities.”

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